Cotton price action on Thursday was down 16 to 27 points at the close. The outside factors are back to mixed action, with crude oil futures up $1.47/barrel. The US dollar index was up $0.357 on the day.
Cotton export sales totaled 101,058 RB in the week of March 13 the lowest for any week since October. That was still 9.11% larger than the same week last year. Vietnam was the buyer of 73,100 RB, with 18,300 RB sold to Pakistan. China canceled a total of 49,300 RB. New crop sales totaled 57,870 RB. Shipments were 351,003 RB, back down from the week prior. The largest destination was Vietnam at 84,900 RB with 80,500 RB to Pakistan.
The Seam showed just 205 bales sold online for Wednesday at an average price of 61 cents/lb. The Cotlook A Index was down another 50 points on 3/19 at 78.50 cents/lb. ICE cotton stocks were steady on March 19, with the current level of certified stocks at 14,488 bales. The weekly update to USDA’s the Adjusted World Price (AWP), saw an increase of 87 points on Thursday afternoon to 54.63 cents/lb.
May 25 Cotton closed at 66.08, down 27 points,
Jul 25 Cotton closed at 67.57, down 27 points,
Dec 25 Cotton closed at 69.36, down 16 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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