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Cotton Falling on FridayCotton futures are posting Friday losses of 160 to 168 points so far on the session. The outside markets continue to add more pressure, as the US dollar index is steady at midday, with crude oil futures the issue this time, down $1.70/barrel. Export Sales data from FAS showed 153,316 RB of cotton sold in the week of 11/7, which was a 5-week low. Shipments were 111,964 RB in that week, the lowest in the last 3 weeks. The Seam reported 445 bales of online sales on November 14 at an average price of 68.18 cents/lb. ICE cotton stocks were up 840 bales on new certifications on Thursday, at 12,064 bales of certified stocks. The Cotlook A Index was up 5 points on 11/14 at 81.35 cents/lb. The USDA Adjusted World Price (AWP) was back up 24 points this week to 58.20 cents/lb. Mar 25 Cotton is at 68.88, down 168 points, May 25 Cotton is at 70.22, down 164 points, Jul 25 Cotton is at 71.46, down 160 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. |
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