Cotton Extending Weakness to Thursday

Cotton futures are trading with Thursday midday losses of 56 to 93 points. The US dollar index was up $0.540 on the day to $97.060, with crude oil futures $0.36 lower.

USDA tallied upland cotton export business at 186,108 RB for the week that ended on September 11. Shipments were pegged at a 3-week low of 120,493 RB.

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The Seam reported 4,975 bales sold on Wednesday at an average price of 65.23 cents/lb. The Cotlook A Index was up 100 points at 79.10 cents on September 17. ICE cotton stocks were again steady on 9/17, 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 will be updated this afternoon.

Oct 25 Cotton  is at 64.93, down 93 points,

Dec 25 Cotton  is at 66.66, down 59 points,

Mar 26 Cotton  is at 68.64, down 56 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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