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Cotton Slips Lower on Thursday Morning
Cotton prices are down 11 to 27 points as we head into the weekly Export Sales release. Futures were back to higher trade on Wednesday, with contracts up 8 to 75 points at the close. October traded at the highest price since July 3. The US dollar index was 529 points lower, touching a 4 month low on the continuation charts. Crude oil was up $2.31 per barrel. ICE cotton stocks were unchanged on July 16, leaving 41,122 bales of certified stocks. The Cotlook A Index was up 80 points on July 16 at 82.60 cents/lb. The USDA Average World Price (AWP) is 56.08 cents/lb last week and is effective through Thursday. Dec 24 Cotton closed at 72.07, up 70 points, currently down 22 points Mar 25 Cotton closed at 73.92, up 61 points, currently down 23 points May 25 Cotton closed at 75.27, up 55 points, currently down 25 points On the date of publication, Alan Brugler 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. |
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