Cotton futures closed the Friday session with contracts 20 to 25 points on the day, as March slipped back 8 points on the week. Crude oil futures were 55 cents per barrel higher at $56.55. The US dollar index was $0.292 higher to $98.380.
Cotton Ginnings data as of December 15 showed a total of 10.212 million RB of cotton ginned, an increase of 1.567 million RB over the previous 2 weeks. That total is down 10% from the same week last year.
CFTC data showed managed money trimming 4,774 contracts from their net short in the week ending on 12/9 to 55,013 contracts.
The December 18 online auction from The Seam showed sales of 9,858 bales at an average price of 60.53 cents/lb. The Cotlook A Index was up 30 points on 12/17 at 73.30 cents. ICE certified cotton stocks were unchanged on Thursday with the certified stocks level at 12,396 bales. The Adjusted World Price was updated this afternoon to 49.99 cents/lb a 40 point drop from last week.
Mar 26 Cotton closed at 63.75, up 24 points,
May 26 Cotton closed at 64.84, up 23 points,
Jul 26 Cotton closed at 65.86, up 20 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
