Cotton Pulling Back from Early Gains on Thursday
Cotton futures are showing slight 4 to 20 point losses across most front months on Thursday. The US dollar index is back up $0.117 to $98.100, as crude oil futures are steady at midday.
Weekly Export Sales data showed a total of net reductions of 17,172 RB in the week ending on 7/31 for old crop to round out the marketing year. A total of 598,393 RB is carried over from unshipped sales, with 107,300 RB sold for new crop in the last week of July. Shipments to round out the 2024/25 marketing year were 182,334 RB, taking the total to 11.191 million RB.
The Cotlook A Index was up 50 points at 78.25 cents on August 6. ICE cotton stocks were steady on 8/5, with the certified stocks level at 21,617 bales. USDA’s Adjusted World Price (AWP) was back down 43 points on last week at 54.52 cents/lb. It will be updated later today.
Oct 25 Cotton is at 65.5, down 20 points,
Dec 25 Cotton is at 66.72, down 12 points,
Mar 26 Cotton is at 68.15, down 4 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.