Cotton Pushing Back Higher at Midday
Cotton futures are trading with 3 to 14 point gains at midday on Wednesday. The outside markets are mixed factors, with the US dollar index down 225 points and crude oil back 44 cents/barrel lower after creeping back above $70 earlier in the session.
The Seam reported 3,500 bales of online sales on December 3 at an average price of 63.27 cents/lb. ICE cotton stocks were unchanged again on Monday, at 13,274 bales of certified stocks. The Cotlook A Index was down 50 points on 12/3 at 81.75 cents/lb. The USDA Adjusted World Price (AWP) was raised by 162 points last week to 57.53 cents/lb. It will be updated tomorrow afternoon.
Mar 25 Cotton is at 71.41, up 14 points,
May 25 Cotton is at 72.6, up 5 points,
Jul 25 Cotton is at 73.5, up 3 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.