Cotton Dropping on Friday
Cotton futures are up 5 to 44 points in the nearby contracts on Friday. The dollar index is up 410 points at 101.680, with crude oil futures down $1.3895/barrel to add little pressure.
Export commitments of cotton shipped and unshipped 2024/25 sales are now at 4.441 million RB, down 15% from last year. That is 39% of the USDA forecast and behind the 51% average pace.
The Seam reported online cash sales of just 1,497 bales at an average price of 65.66 cents on Thursday. ICE cotton stocks unchanged on August 29, leaving just 266 bales of cert stocks. The Cotlook A Index was back down 150 points on August 29 at 79.95 cents/lb. The USDA Average World Price (AWP) was updated to 56.98 cents/lb for the next week through Thursday, up 108 points from the week prior.
Dec 24 Cotton is at 69.74, down 18 points,
Mar 25 Cotton is at 71.41, down 11 points,
May 25 Cotton is at 72.64, down 6 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.