Cotton Weakness Creeping into Tuesday
Cotton prices are trading on Tuesday morning with losses of 5 to 11 points. Futures closed out the Monday trade with contracts down 101 to 114 points. The outside markets were pressure factors, with the crude oil down $3.70/barrel and the US dollar index 303 points higher.
The Seam reported 635 bales of online sales on October 11 at an average price of 69.38 cents/lb. ICE cotton stocks were unchanged on Friday, leaving 265 bales of certified stocks. The Cotlook A Index was up 50 points on October 11 at 84.50 cents/lb. The USDA Adjusted World Price (AWP) was trimmed by another 40 points last week to 60.41 cents/lb. It is good through Thursday.
Mar 25 Cotton closed at 73.19, down 114 points, currently down 9 points
May 25 Cotton closed at 74.64, down 107 points, currently down 11 points
Jul 25 Cotton closed at 75.56, down 101 points, currently down 10 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.