Cotton Pushing Higher on Friday

Cotton field with closeup by Trisha Downing via Unsplash

Cotton futures are trading with 29 to 35 point gains so far on Friday. The outside markets are mixed, with crude oil down $0.99/barrel and the US dollar index 352 points lower.

Export Sales data showed an improvement in bookings during the week of October 10 to 159,769 RB, a 78.3% hike from the week prior. Vietnam was the top buyer of 47,700 RB, with 45,600 RB sold to Pakistan. Export shipments were just 57,834 RB in that week, a MY low. Pakistan was the destination of 16,200 RB, with 10,600 RB to Mexico.

The Seam reported 782 bales of online sales on October 16 at an average price of 68.67 cents/lb. ICE cotton stocks were unchanged on Tuesday, leaving 174 bales of certified stocks. The Cotlook A Index was up 50 points on October 16 at 82.80 cents/lb. The USDA Adjusted World Price (AWP) was trimmed by another 117 points on Thursday to 59.24 cents/lb. 

Mar 25 Cotton  is at 73.17, up 32 points,

May 25 Cotton  is at 74.66, up 35 points,

Jul 25 Cotton  is at 75.62, up 36 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.