Cotton futures are up 5 to 7 points so far on Thursday’s midday. Crude oil futures are 50 cents per barrel higher at $56.44. The US dollar index is $0.143 higher to $98.145.
Export Sales data showed 135,886 RB of cotton sold during the week of 11/27, a 4-week low. Shipments were a 3-week high at 122,094 RB.
Spec traders in cotton futures and options were trimming their net short position during the week ending on December 2 by 2,212 contracts. That took their net short to 59,787 contracts.
Thursday’s online auction from The Seam showed sales of 14,934 bales at an average price of 60.84 cents/lb. The Cotlook A Index was down 90 points on 12/17 at 73.00 cents. ICE certified cotton stocks were unchanged on December 17 with the certified stocks level at 12,396 bales. The Adjusted World Price was updated to 50.39 cents/lb last week. It will be updated again later today.
Mar 26 Cotton is at 63.5, up 7 points,
May 26 Cotton is at 64.6, up 7 points,
Jul 26 Cotton is at 65.64, up 6 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. This article was originally published on Barchart.com
