Cotton futures are following this week’s pattern of taking back overnight losses during the day session, as contracts are off the lows and up 10 to 12 points at midday. The US dollar index is down $0.429 at $98.115, with crude oil $0.42/barrel lower.
Wednesday’s online auction from The Seam showed just 445 bales sold with an average price of 54.09 cents/lb. The Cotlook A Index was down another 10 points on 10/15 at 74.85 cents. ICE certified cotton stocks were up another 158 bales on October 15, with the certified stocks level at 16,751 bales.
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Dec 25 Cotton is at 63.86, up 10 points,
Mar 26 Cotton is at 65.43, up 10 points,
May 26 Cotton is at 66.67, up 12 points
