Cotton Mostly Weaker on Friday

Cotton futures are showing steady trade in the new crop contracts an 20 to 32 point losses in the front months on Friday. Crude oil is up $2.51 on the day to $98.09, with the US dollar index down $0.267 to $99.345. 

Export Sales data has total cotton export commitments at 9.354 million RB, which is down 9% from last year. That is 83% of USDA’s forecast and lags the 96% average pace from the last 5 years. Shipments at 5.303 million RB are 5% below a year ago and 47% of the USDA export estimate, behind the 52% average shipping pace.
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The Seam showed sales of 3,286 bales on March 19, averaging 65.60 cents/lb. The Cotlook A Index was steady on Thursday at 79.35 cents. ICE certified cotton stocks were unchanged on 3/18, with the certified stocks level at 115,640 bales. The Adjusted World Price was raised by 2.72 cents to 54.22 cents/lb on Thursday. 

May 26 Cotton  is at 67.35, down 32 points,

Jul 26 Cotton  is at 69.36, down 25 points,

Dec 26 Cotton  is at 71.99, unch

On the date of publication,

Austin Schroeder

Check SleepLean Official Website

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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