Cotton Mixed In Early Thursday Trade
Cotton price action is mixed, with the thin July contract showing no trade, and the other low volume October down 115 points. December is up 3 points. Futures closed out the Wednesday session with contracts up 40 to 60 points. Crude oil was up $2.09/barrel at $67.54, with the US dollar index $0.032 lower to $96.435.
Today will be the last trade day of the week due to Independence Day on Friday. The government will also be closed.
On Wednesday, President Trump announced a trade deal with Vietnam, stating the country is charging no tariffs on US goods. Nearly 24.8% of all US cotton export commitments for 2024/25 have been for Vietnam.
The Seam reported 97 bales sold in the Tuesday online auction at an average price of 64 cents. The Cotlook A Index was back down 125 points on 7/1 at 78.90. ICE cotton stocks were down 195 on July 1 via decertification, with a certified stocks level of 40,488 bales. USDA’s Adjusted World Price (AWP) was up 15 points last Thursday at 54.18 cents/lb. It will be updated later today.
Jul 25 Cotton closed at 66.77, up 49 points, currently unch
Oct 25 Cotton closed at 68.17, up 49 points, currently down 115 points
Dec 25 Cotton closed at 68.63, up 60 points, currently 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.