Cotton futures are experiencing slight gains this Friday, although the October delivery is down by 21 points. The US dollar index has decreased by $0.335 today, settling at $97.880, while crude oil futures have risen by 83 cents.
Recent Export Sales data released on Thursday indicated that a total of 4.059 million running bales (RB) of cotton were sold as of September 18. This figure represents an 18% decline compared to the same period last year. Notably, this amount accounts for 37% of the USDA’s export forecast, which is significantly behind the average pace of 53%.
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In Thursday’s online auction hosted by The Seam, there were 1,561 sales recorded at an average price of 59.3 cents per pound. The Cotlook A Index also saw a decline, dropping 45 points to 77.70 cents as of September 25. ICE cotton stocks remained steady on September 25, with certified stocks recorded at 15,474 bales. Additionally, the USDA’s Adjusted World Price (AWP) fell by 41 points last week, now standing at 54.38 cents per pound.
Oct 25 Cotton is currently at 63.83, down 21 points,
Dec 25 Cotton is at 66.29, up 1 point,
Mar 26 Cotton is at 68.2, up 1 point.
On the date of publication,
Austin Schroeder
did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are provided solely for informational purposes.
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