Cotton Steady at Thursday’s Close
Cotton futures posted slightly mixed trade on Thursday, with contracts down 6 point to 5 points higher. The outside markets were pressure factors, with the US dollar index up 310 points and crude oil 27 cents/barrel lower.
Export Sales data from this morning showed a total of 152,989 RB sold in the week ending on 12/5, which was a 9-week low and 10.36% below the week prior. Vietnam was the largest buyer of 75,800 RB, with 50,700 RB sold to Pakistan. Shipments were back down 12.78% from last week to 137,408 RB. Pakistan was the largest destination of 29,200 RB, and 27,800 RB to China.
The Seam reported 6,230 bales of online sales on December 11 at an average price of 63.45 cents/lb. ICE cotton stocks 882 bales on Wednesday, at 20,113 bales of certified stocks. The Cotlook A Index was down 50 points on 12/11 at 79.60 cents/lb. The USDA Adjusted World Price (AWP) was cut by 152 points on Thursday to 56.22 cents/lb.
Mar 25 Cotton closed at 70.09, down 6 points,
May 25 Cotton closed at 71.27, unch
Jul 25 Cotton closed at 72.26, up 1 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.