Cotton futures are showing Friday weakness of 6 to 13 points in the nearby contracts. The dollar index is down 16 points, with crude oil futures back up 57 cents/barrel to provide some outside support.
Export Sales data showed commitments at 4.959 million RB, which is a multi-year low for the current week. That is now 45% of the USDA export projection compared to the 56% average sales pace for the current week.
The Seam reported 868 online cash cotton bale sales on Thursday, averaging 67.83 cents/lb. ICE cotton stocks were unchanged on September 26, leaving 265 bales of certified stocks. The Cotlook A Index was down 90 points on September 26 at 84.90 cents/lb. The USDA Adjusted World Price (AWP) was raised by 223 points last Thursday to 61.06 cents/lb this afternoon.
Dec 24 Cotton is at 72.94, down 8 points,
Mar 25 Cotton is at 74.71, down 6 points,
May 25 Cotton is at 75.74, down 13 points
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