The cotton futures are trading 33 to 35 points in the black. New crop futures are also stronger, though gains are less than 10 points. March cotton is just 8 points under the day session’s high.
USDA reported 207,044 RBs of cotton were sold for exports. That was down from 42k RBs the week prior. Shipments for the week were shown at 142k RBs which was also below last week. The season’s total commitments were 9.5m RBs, and remain 2.5% ahead of last year’s pace.
The Seam confirmed another 9,737 bales were sold on 1/23 for an average gross price of 72.14 cents/lb. The Cotlook A Index increased another 65 points on 1/23 to 94 cents/lb. ICE certified stocks were 1,949 bales as of 1/19. The AWP for cotton is 65.47 cents/lb through Thursday.
Mar 24 Cotton is at 85.76, up 36 points,
May 24 Cotton is at 86.93, up 33 points,
Jul 24 Cotton is at 87.54, up 33 points
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