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Cotton Posting Marginal Friday LossesCotton futures are trading with 6 to 10 point losses so far on Friday. The outside markets are positive factors on Friday, with the US dollar index back down 767 points and crude oil back up 27 cents/barrel. Export Sales data took total cotton shipments to 2.411 million RB, down 15% from last year and 23% of USDA’s export forecast, lagging the 27% average shipping pace for this time of year. Total shipped and unshipped commitments are 7.207 million RB, down 11% from a year ago. That is also 68% of the USDA projection, behind the 75% average pace. The Seam reported 7,902 bales of online sales on December 19 at an average price of 58.15 cents/lb. ICE cotton stocks were unchanged on Thursday, at 20,113 bales of certified stocks. The Cotlook A Index was down 50 points on 12/19 at 78.35 cents/lb. The USDA Adjusted World Price (AWP) was cut by another 113 points on Thursday to 55.09 cents/lb. It is good through next Thursday. Mar 25 Cotton is at 67.81, down 10 points, May 25 Cotton is at 68.94, down 9 points, Jul 25 Cotton is at 69.89, down 9 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. |
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