Cotton futures are continuing the recovery higher on Tuesday, with gains of 24 to 30 points at midday. Crude oil is bouncing off overnight weakness, with gains of 27 cents/barrel and the US dollar index up $0.315 to $98.670.
Th Friday online auction from The Seam showed 676 bales sold with an average price of 63.45 cents/lb. The Cotlook A Index was up 55 points on 10/20 at 75.65 cents. ICE certified cotton stocks were steady on October 20, with the certified stocks level at 16,752 bales. The AWP is still not being reported due to the government shutdown.
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Dec 25 Cotton is at 64.46, up 30 points,
Mar 26 Cotton is at 66.03, up 26 points,
May 26 Cotton is at 67.25, up 24 points
