Cotton futures are mixed so far on the session, with July down 20 points, and new crop December up 28 at midday. The US Dollar Index is up 328 points on the session so far, with crude oil up just 7 cents/barrel.
Weekly Export Sales data showed total commitments at 12.543 million RB for the MY, 108% of USDA’s updated projection, lagging the 114% average. Part of that is the outstanding sales total at 3.26 million RB, which may be hard to get shipped with just 8 weeks left in the MY. Accumulated shipments are at 9.283 million RB, 7% below a year ago and 80% of the USDA forecast, compared to the 83% average.
The ICE certified cotton stocks were up 1,038 bales on June 11 at 138,247 bales. There were 704 decerts, with 2,069bales awaiting review. The Cotlook A Index was back down 85 points on June 13 at 81.85 cents/lb. The USDA Average World Price (AWP) went down 81 points this week to 57.32 cents per pound. That is effective through next Thursday.
Jul 24 Cotton is at 71.15, down 20 points,
Dec 24 Cotton is at 72.07, up 28 points,
Mar 25 Cotton is at 73.28, down 3 points
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