Cotton Post Slight Weakness on Friday

Austin Schroeder Barchart Fri May 9, 5:10PM CDT
Closeup of cotton plant via bobbycrim via Pixabay

Cotton futures slipped back on Friday, with contracts down 8 to 15 points at the close, as July was down 180 points this week. Crude oil prices were back up $1.14/barrel. The US dollar index was down $0.235 to $100.255.

CFTC data showed specs cutting another 5,182 contracts from their net short position as of May 6 to 21,049 contracts. 

USDA’s Export Sales report showed current cotton commitments for export at 11.033 million running bales, which is a 5% drop from last year. That is also 108% of the USDA export forecast for the 2024/25 marketing year, matching the 108 average pace. 

The Thursday online auction from The Seam showed sales of 797 ales at an average price of 55.13 cents/lb. The Cotlook A Index was down 5 points on Wednesday at 78.95. ICE cotton stocks were down 416 bales on May 8 on a mix of new certifications and decerts, with a certified stocks level of 16,721 bales. USDA’s Adjusted World Price (AWP) was back down 13 points on Thursday to 54.81 cents/lb. 

Jul 25 Cotton  closed at 66.61, down 8 points,

Oct 25 Cotton  closed at 68.8, down 11 points,

Dec 25 Cotton  closed at 68.67, down 8 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.