Cotton prices are reverting to weakness, despite earlier gains in the overnight. Contracts are trading down 4 to 8 points at midday. Outside factors are offsetting, with crude oil up 65 cents and over $81/barrel, as the US dollar index is up 389 points.
The ICE certified cotton stocks were down 876 bales on June 18 at 136,187 bales. There were 1,687 decerts, with 811 new certs and 4,442 bales awaiting review. The Cotlook A Index was up 100 points on June 19 at 82.70 cents/lb. The USDA Average World Price (AWP) was down 81 points to 57.32 cents per pound last week. USDA will update the number this afternoon.
Jul 24 Cotton is at 70.95, down 8 points,
Dec 24 Cotton is at 72.72, down 4 points,
Mar 25 Cotton is at 74.01, down 4 points
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