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Cotton futures are trading with 5 to 10 point losses at midday. Crude oil futures are back up $1.42 per barrel at $59.18. The US dollar index is up $0.232 at $98.920.
USDA’s Export Sales now has upland cotton export commitments at 6.598 million RB, which is down 15% from the same week last year. That is 57% of USDA’s export forecast and behind the 77% average sales pace. Shipments are 2.986 million RB and 26% of the USDA number (behind the 30% average pace).
The Thursday online auction from The Seam showed sales of 61.10 cents/lb on 10,864 bales. The Cotlook A Index was down 25 points on January 8 at 74.80 cents. ICE certified cotton stocks were steady on 1/8 with the certified stocks level at 11,510 bales. The Adjusted World Price was updated to 50.97 cents/lb on Thursday afternoon, up 21 points from the week prior.Â
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.
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