Early County Gin, Inc.
ECG User Portal
Cotton/Farm Resources
Market Data
News
Weather
Resources
|
Cotton Showing Slight Friday Morning StrengthCotton prices are trading with Friday morning gains of 18 to 24 points ahead USDA reports later this morning. Futures closed the Thursday session with contracts up 39 to 45 points the nearbys. The outside markets were supportive, with the crude oil back up $2.57/barrel and the US dollar index 60 points lower. The weekly Export Sales report from Thursday morning showed another slow week of sales at 89,608 RB in the week of 10/3. That was down 6.51% from the week prior but not quite to the MY low level from a couple weeks back. Vietnam was the top buyer of 56,600 RB, with Mexico next in line at 11,700 MT. Shipments were at 95,113 RB, back down from the previous week by 11.17%. Pakistan was the top destination of 24,700 RB, with 13,600 MT shipped to Mexico. The Seam reported 277 bales of online sales on October 9 at an average price of 69.76 cents/lb. ICE cotton stocks were unchanged on Wednesday, leaving 265 bales of certified stocks. The Cotlook A Index was back down 110 points on October 9 at 84.00 cents/lb. The USDA Adjusted World Price (AWP) was trimmed by another 40 points on Thursday to 60.41 cents/lb. Mar 25 Cotton closed at 74.75, up 39 points, currently up 24 points May 25 Cotton closed at 76.11, up 41 points, currently up 20 points Jul 25 Cotton closed at 76.94, up 45 points, currently up 18 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. |
|