Cotton Slipping So Far on Thursday
Cotton futures are trading with losses of 11 to 20 points so far on Thursday morning. Price action was weaker on Wednesday, with losses of 102 to 127 points across the front months. The outside factors were mixed on the day, as crude oil futures were up 29 cents/barrel on the day. The US dollar index was $0.115 higher.
The Seam reported 8,987 bales in online sales on February 18 at an average price of 61.82 cents/lb. The Cotlook A Index was unchanged on Tuesday at 78.80 cents/lb. ICE cotton stocks were up 1,514 bales on 2/18 at 1,732 bales of certified stocks. The USDA raised their Adjusted World Price (AWP) by 81 points at 53.99 cents/lb last Thursday. It will be updated again on Thursday.
Mar 25 Cotton closed at 66.24, down 127 points, currently down 19 points
May 25 Cotton closed at 67.68, down 114 points, currently down 11 points
Jul 25 Cotton closed at 68.67, down 102 points, currently down 11 points
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.