Thursday’s price action saw cotton futures pull back, closing down 40 to 47 points in the nearbys. Crude oil prices were down 77 cents so far on the day, with the US dollar index up $0.400 to $99.835.
Export Sales data indicated a total of 141,428 RB of cotton sold in the week that ended on May 15. That was a 5-week high, but still 30.31% below the same week last year. Vietnam was the top buyer of 61,800 RB, with 19,400 RB sold to Turkey. Shipments came in at 251,531 RB, the lowest since the end of January. The top destination was Vietnam at 57,300 RB, with 56,600 RB to Pakistan.
The Seam reported 1,311 bales sold on 5/21 at an average price of 72.07 cents. The Cotlook A Index was back up 65 points on Tuesday at 78.25. ICE cotton stocks were steady on May 21, with a certified stocks level of 39,796 bales. USDA’s Adjusted World Price (AWP) was down 38 points on this afternoon to 53.52 cents/lb.
Jul 25 Cotton closed at 65.63, down 44 points,
Oct 25 Cotton closed at 68.18, down 47 points,
Dec 25 Cotton closed at 68.26, down 45 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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