Cotton Eases Lower on Thursday
Cotton futures posted Thursday losses of 10 to 20 points across most contracts, as the thinly traded October contract was down 75 points. The US dollar index was back up $0.455 on the day to $98.535, with crude oil futures $0.27 higher.
Export Sales data showed a total of 105,373 RB of cotton sold in the week ending on August 14, back down from last week. The top buyer was Vietnam of 35,800 RB, with 28,100 RB to Pakistan. Shipments also slipped back, at 123,292 RB in the week of 8/14. The top destination was Vietnam at 31,100 RB, with 18,500 RB to Bangladesh.
The Cotlook A Index was down 35 points at 78.95 cents on August 20. ICE cotton stocks were unchanged on 8/20, with the certified stocks level at 16,006 bales. USDA’s Adjusted World Price (AWP) was up 48 points on Thursday at 55.53 cents/lb.
Oct 25 Cotton closed at 65.89, down 75 points,
Dec 25 Cotton closed at 67.42, down 18 points,
Mar 26 Cotton closed at 69.1, down 14 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.