Cotton futures are feeling some strength on Friday, with contracts up 20 to 26 points in the nearbys following an uptick in export business. The outside markets are mixed, with crude oil back down 10 cents/barrel and the US dollar index down 13 cents
Export Sales data from this morning showed 324,072 RB of cotton sales for 2024/25, a MY high and 1.74% above last year. Pakistan was the buyer of 146,300 RB, with Vietnam buying 52,300 RB. Shipments were back slightly lower than the week prior at 130,318 RB, which was still 46.68% above the same week last year. Of that 25,200 RB was headed to Pakistan, with 18,700 RB to Mexico.
The Seam reported 3,554 bales of online sales on November 27 at an average price of 68.64 cents/lb. ICE cotton stocks were unchanged again on Thursday, at 13,274 bales of certified stocks. The Cotlook A Index was unchanged on 11/27 at 82.00 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 later today due to the holiday.
Mar 25 Cotton is at 72, up 25 points,
May 25 Cotton is at 73.1, up 26 points,
Jul 25 Cotton is at 74.03, up 20 points
