Cotton futures are trading 132 to 170 points higher across the front months on Friday’s midday. Outside markets are supportive, with the US dollar index down 604 points and below $101. Crude oil futures are also up $1.79/barrel to help via the synthetic market.
Export Sales data showed upland cotton export commitments improving to 4.306 million as of August 15. That is down 17% from a year ago and just 38% of USDA’s full year export forecast, compared to the 50% average pace.
ICE cotton stocks were down 3,354 bales on August 22, leaving 9,413 bales of cert stocks. The Cotlook A Index was up 100 points on August 22 at 81.65 cents/lb. The USDA Average World Price (AWP) is 55.90 cents/lb for the next week through Thursday, up 55 points from the week prior.
Dec 24 Cotton is at 71.12, up 178 points,
Mar 25 Cotton is at 72.47, up 161 points,
May 25 Cotton is at 73.51, up 146 points
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