Cotton Sticking Near Unchanged at Midday

Cotton futures are trading with steady to 4 point lower action across most nearby contracts at midday. The outside markets are mixed factors, as the US dollar index is down $0.779 on the day to $97.530 and crude oil futures $1.67 lower.

USDA’s weekly Export Sales report showed a total of 244,971 RB of cotton sold in the week ending on August 28. That was a 36.6% increase from last week and 81.21% above the same week last year. Actual shipments totaled 154,651 RB which was the highest in 4 weeks.

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The Seam reported just 135 bales sold on Thursday at an average price of 62.85 cents/lb. The Cotlook A Index was unchanged at 77.50 cents on September 4. ICE cotton stocks were steady on 9/4, with the certified stocks level at 15,474 bales. USDA’s Adjusted World Price (AWP) was down another 63 points on Thursday at 54.31 cents/lb.

Oct 25 Cotton  is at 64.69, unch

Dec 25 Cotton  is at 66.16, down 4 points,

Mar 26 Cotton  is at 68.08, down 1 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. This article was originally published on Barchart.com

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