Cotton Heading Lower to Start Wednesday
Cotton prices are trading with losses of 40 to 47 points on Wednesday morning. Futures closed out Tuesday with 31 to 43 point losses on Tuesday. The outside markets were pressure factors, with the US dollar index up 104 points and crude oil back down 45 cents/barrel.
The Seam reported 6,398 bales of online sales on December 16 at an average price of 64.11 cents/lb. ICE cotton stocks were unchanged on Monday, at 20,113 bales of certified stocks. The Cotlook A Index was down 75 points on 12/13 at 79.50 cents/lb. The USDA Adjusted World Price (AWP) was cut by 152 points last Thursday to 56.22 cents/lb.
Mar 25 Cotton closed at 68.69, down 37 points, currently down 47 points
May 25 Cotton closed at 69.82, down 40 points, currently down 45 points
Jul 25 Cotton closed at 70.84, down 43 points, currently down 41 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.