Cotton futures are showing 40 to 58 point gains across most contracts on Friday. Crude oil is down $1.00 on the day, with the US dollar index is down $0.066.
USDA’s monthly WASDE report showed no changes the old crop stocks at 4.2 million bales. New crop was raised by 400,000 bales to 4.1 million thanks to an identical increase to production to 13.7 million bales on the larger acreage data.
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The Cotlook A Index was down 50 points on Thursday at 89.75 cents. ICE certified cotton stocks were down 26,320 bales on July 9 via decertification, with the certified stocks level at 158,607 bales. The Adjusted World Price was back up 92 points on Thursday to 62.86 cents/lb.
Oct 26 Cotton is at 79.36, up 43 points,
Dec 26 Cotton is at 81.17, up 54 points,
Mar 27 Cotton is at 82.55, up 58 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.
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