Cotton futures are falling on Friday’s midday, with losses of 63 to 69 points. The outside factors are back to mixed action, with crude oil futures up 13 cents/barrel. The US dollar index is up $0.243 so far on the day.
Cotton export sales totaled 101,058 RB in the week of March 13 the lowest for any week since October. That brought export commitments for the 2024/25 marketing year to 10.225 million RB, which is down 5% from last year. It is also 99% of USDA’s export projection for the full year, on par with the average sales pace.
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The Seam showed another light sales total on Thursday at just 285 bales sold online at an average price of 49.08 cents/lb. The Cotlook A Index was steady on 3/20 at 78.50 cents/lb. ICE cotton stocks were steady again on March 20, with the current level of certified stocks at 14,488 bales. The weekly update to USDA’s the Adjusted World Price (AWP), saw an increase of 87 points on Thursday afternoon to 54.63 cents/lb.
May 25 Cotton is at 65.39, down 69 points,
Jul 25 Cotton is at 66.9, down 67 points,
Dec 25 Cotton is at 68.73, down 63 points
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