Cotton Falls Lower on Tuesday

Cotton futures were down 29 to 36 points in the front months on Tuesday. Crude oil futures were up $1.76 per barrel on the day at $63.90 after the US shot down an Iranian drone in the Arabian Sea. The US dollar index was down $0.262 to $97.230. 

Monday’s online auction from The Seam showed sales of 56.99 cents/lb on 8.955 bales. The Cotlook A Index was down another 15 points on January 30 at 73.80 cents. ICE certified cotton stocks were up 2 on 2/2 with the certified stocks level at 34,228 bales. The Adjusted World Price was updated to 50.23 cents/lb last week. 
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Mar 26 Cotton  closed at 62.31, down 36 points,

May 26 Cotton  closed at 64.11, down 29 points,

Jul 26 Cotton  closed at 65.8, down 30 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.

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