Cotton futures are pulling off the early Friday losses with contracts down 11 to 40 points across most contracts at midday. Crude oil is up another $3.07 per barrel, with the US dollar index up 0.016.
Export Sales data shows old crop cotton commitments at 11.951 million RB as of July 9, which is 102% of the USDA export projection, and lagging behind the last few year. Shipments accumulated to 10.398 million RB are 88% of the USDA number, behind the 93% from last year at this time. New crop sales have reached 2.51 million RB.
