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Cotton Slipping Lower Out of Thanksgiving BreakCotton futures are slipping back lower on Friday AM. Futures showed 5 to 7 points gains in the nearbys on Wednesday. The outside markets were mixed, with crude oil back down 5 cents/barrel. The US dollar index is providing support with a 928 point loss on the day. The Seam reported 4,242 bales of online sales on November 26 at an average price of 68.68 cents/lb. ICE cotton stocks were unchanged again on Tuesday, at 13,274 bales of certified stocks. The Cotlook A Index was up 100 points on 11/26 at 82.10 cents/lb. The USDA Adjusted World Price (AWP) was lowered by 229 points last Thursday afternoon to 55.91 cents/lb. It will be updated on Friday due to the holiday. Mar 25 Cotton closed at 71.75, up 7 points, currently down 15 points May 25 Cotton closed at 72.84, up 5 points, currently down 11 points Jul 25 Cotton closed at 73.83, up 6 points, currently down 14 points On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. |
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