Cotton Showing Firm Action on Thursday Morning
Cotton price action is steady to 3 points higher so far. Futures closed the Wednesday session with contracts up 4 to 10 points and thinly October up 39 points. The outside markets were supportive on Wednesday, as US dollar index was mostly steady, up just $0.011 on the day to $98.130, with crude oil futures were up $1.11
The Seam reported 692 bales sold in the Tuesday online auction at an average price of 63 cents/lb. The Cotlook A Index was up 15 points at 79.30 cents on August 18. ICE cotton stocks were down 1,011 bales on 8/19, with the certified stocks level at 16,006 bales. USDA’s Adjusted World Price (AWP) was back up 66 points last week at 55.05 cents/lb. It will be updated again on Thursday.
Oct 25 Cotton closed at 66.64, up 39 points, currently unch
Dec 25 Cotton closed at 67.6, up 4 points, currently up 3 points
Mar 26 Cotton closed at 69.24, up 5 points, currently up 2 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.