Cotton futures are fading back lower on Wednesday, with contracts down 50 to 60 points. The dollar index is back up 426 points, with crude oil futures back down $1.63/barrel to provide some outside pressure.
The Seam reported 1,368 online cash cotton bale sales on Tuesday, averaging 70.22 cents/lb. ICE cotton stocks were unchanged on September 24, leaving 265 bales of cert stocks. The Cotlook A Index was unchanged on September 24 at 85.05 cents/lb. The USDA Adjusted World Price (AWP) was raised by 283 points last Thursday to 58.83 cents/lb. That is good through this Thursday.
Dec 24 Cotton is at 73.53, down 56 points,
Mar 25 Cotton is at 75.32, down 53 points,
May 25 Cotton is at 76.43, down 50 points
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