Cotton prices are down 33 to 53 points this morning. Futures closed out Thursday with losses of 14 to 32 points across most contracts. Thinly traded October was the lone exception, up 25 points. The US dollar index was back up 467 points, after hitting a 4 month low on the continuation charts. Crude oil was down 35 cents per barrel to add some pressure via the synthetic fiber market.
US Cotton export sales were tallied at 27,240 RB for the week that ended on July 11, a MY low. The marketing year ends July 31. Sales for new crop were a 5-week high at 165,590 RB. Actual export shipments were the lowest since November at 113,106 RB during the week ending last Thursday.
ICE cotton stocks were unchanged on July 17, leaving 41,122 bales of certified stocks. The Cotlook A Index was back down 90 points on July 16 at 81.70 cents/lb. The USDA Average World Price (AWP) was raised 34 points on Thursday to 56.42 cents/lb. It is in effect Friday through next Thursday.
Dec 24 Cotton closed at 71.93, down 14 points, currently down 35 points
Mar 25 Cotton closed at 73.76, down 16 points, currently down 37 points
May 25 Cotton closed at 75.07, down 20 points, currently down 33 points
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