Cotton futures are trading with 6 to 10 point losses so far on Friday. The outside markets are positive factors on Friday, with the US dollar index back down 767 points and crude oil back up 27 cents/barrel.
Export Sales data took total cotton shipments to 2.411 million RB, down 15% from last year and 23% of USDA’s export forecast, lagging the 27% average shipping pace for this time of year. Total shipped and unshipped commitments are 7.207 million RB, down 11% from a year ago. That is also 68% of the USDA projection, behind the 75% average pace.
The Seam reported 7,902 bales of online sales on December 19 at an average price of 58.15 cents/lb. ICE cotton stocks were unchanged on Thursday, at 20,113 bales of certified stocks. The Cotlook A Index was down 50 points on 12/19 at 78.35 cents/lb. The USDA Adjusted World Price (AWP) was cut by another 113 points on Thursday to 55.09 cents/lb. It is good through next Thursday.
Mar 25 Cotton is at 67.81, down 10 points,
May 25 Cotton is at 68.94, down 9 points,
Jul 25 Cotton is at 69.89, down 9 points
