Cotton price action is 44 to 58 points higher on Friday morning. Futures close the Thursday session easing back from the midday gains, as contracts were down 3 to 5 points in the front months. The US dollar index was down $0.406 at $98.135, with crude oil $0.87/barrel lower.
Early on Friday morning, President Trump he think’s we’ll be fine with China ahead of the leaders meeting in a couple weeks.
Wednesday’s online auction from The Seam showed just 445 bales sold with an average price of 54.09 cents/lb. The Cotlook A Index was down another 10 points on 10/15 at 74.85 cents. ICE certified cotton stocks were up another 158 bales on October 15, with the certified stocks level at 16,751 bales.
Dec 25 Cotton closed at 63.73, down 3 points, currently up 57 points
Mar 26 Cotton closed at 65.29, down 4 points, currently up 55 points
May 26 Cotton closed at 66.5, down 5 points, currently up 53 points
