Cotton prices are down 54 to 73 points in early Thursday trade. Futures posted slightly lower trade on Wednesday, with contracts down 3 to 5 points and thin October up 3 points. Crude oil prices were down 70 cents on an inventory build despite a stronger start overnight. The US dollar index was down another $0.502 to $99.475.
The Seam reported 243 bales sold on 5/20 at an average price of 60.84 cents. The Cotlook A Index was back up 85 points on Tuesday at 77.60. ICE cotton stocks were up 3,430 bales via new certifications on May 20, with a certified stocks level of 39,796 bales. USDA’s Adjusted World Price (AWP) was back down 91 points last week to 53.90 cents/lb. It will be updated on Thursday.
Jul 25 Cotton closed at 66.07, down 5 points, currently down 72 points
Oct 25 Cotton closed at 68.65, up 3 points, currently down 54 points
Dec 25 Cotton closed at 68.71, down 3 points, currently down 69 points
