Cotton Pulls Back on Wednesday

Cotton futures were weaker on Wednesday, with contracts down 37 to 53 points across the nearbys. The US dollar index was up $0.392 on the day to $96.640. The Fed cut rates by 25 basis points, as expected on Wednesday. Crude oil futures were $0.59 lower.

The Seam reported 909 bales sold on Tuesday at an average price of 63.60 cents/lb. The Cotlook A Index was unchanged at 78.10 cents on September 16. ICE cotton stocks were again steady on 9/16, with the certified stocks level at 15,474 bales. USDA’s Adjusted World Price (AWP) was down another 21 points last week at 54.10 cents/lb. It is good through this Thursday.

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Oct 25 Cotton  closed at 65.86, down 53 points,

Dec 25 Cotton  closed at 67.25, down 43 points,

Mar 26 Cotton  closed at 69.2, down 37 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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