Cotton futures are trading with slight gains on Friday, as in delivery October is down 21 points. The US dollar index is back down $0.335 on the day to $97.880, with crude oil futures 83 cents higher.
Export Sales data from Thursday showed a total of 4.059 million RB of cotton sold by 9/18, which is down 18% from a year ago. That is 37% of the USDA export number and lags the 53% average pace.
Thursday’s online auction from The Seam showed 1,561 sales at an average price of 59.3 cents/lb. The Cotlook A Index was down 45 points to 77.70 cents on September 25. ICE cotton stocks were again steady on 9/25, with the certified stocks level at 15,474 bales. USDA’s Adjusted World Price (AWP) was back down 41 points last week at 54.38 cents/lb.
Oct 25 Cotton is at 63.83, down 21 points,
Dec 25 Cotton is at 66.29, up 1 points,
Mar 26 Cotton is at 68.2, up 1 points
