Cotton futures are down 210 points in the front month and in delivery July contract. Other contracts are up 5 to 12 points at midday. Outside factors are mixed but mostly negative, as crude oil is up 6 cents/barrel and the US dollar index is up 401 points.
Friday will be busy, with the June Acreage report released by NASS. Traders are estimating on average a 156,000 acre increase to cotton acreage from the March Intentions report at 10.829 million acres. The range is from 10.5 to 11.2 million acres.
The ICE certified cotton stocks were down 2,819 bales on June 25 at 100,381 bales. The Cotlook A Index was up 125 points on June 25 at 83.45 cents/lb. The USDA Average World Price (AWP) was down another 67 points to 56.65 cents per pound last Thursday. It is good through tomorrow and will be updated.
Jul 24 Cotton is at 70.5, down 210 points,
Dec 24 Cotton is at 75.14, up 7 points,
Mar 25 Cotton is at 76.51, up 9 points
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