Cotton prices are down 60 to 77 points so far this morning as the market just opened at 7:00 am CDT. Futures closed with contracts down 9 to 65 points across the board on Wednesday, led by weaker front months. The outside factors were supportive but ignored, with crude oil up 83 cents/barrel, as the dollar index was down 387 points.
Census Cotton exports in May totaled 1.01 million bales, which was a drop of 16.6% from last month, and 32.02% lower than the same month last year.
ICE certified cotton stocks were down 426 bales on decerts, to 53,791 bales on July 2. The Cotlook A Index was back up 50 points on July 2 at 83.45 cents/lb. The USDA Average World Price (AWP) will be in effect through July 4, and updated next on July 5 at 8 AM EDT.
Last week it was up 1.58 to 58.23 cents per pound.
Jul 24 Cotton closed at 68.68, down 65 points, currently unch
Dec 24 Cotton closed at 72.36, down 34 points, currently down 74 points
Mar 25 Cotton closed at 74.05, down 34 points, currently down 71 points
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