Old crop cotton futures were 36 to 38 points higher on Thursday, while new crop prices were 5 points weaker at the close. That left the Mar-Dec spread at 461 points.
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 increased by 217 points to 67.64 cents for the week.
Mar 24 Cotton closed at 85.76, up 36 points,
May 24 Cotton closed at 86.98, up 38 points,
Jul 24 Cotton closed at 87.59, up 38 points
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