Cotton 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
