Cotton price action is showing 5 to 20 point gains early on Thursday. futures closed the Wednesday session with contracts down 24 to 45 points as May rolled off the board at the close. Crude oil prices were back down $1.14/barrel. The US dollar index was up $0.678 to $99.725.
The Tuesday online auction from The Seam showed sales of 4,555 bales at an average price of 69.37 cents/lb. The Cotlook A Index was up 275 points on Tuesday at 80. ICE cotton stocks were unchanged on May 6, with a certified stocks level of 14,049 bales. USDA’s Adjusted World Price (AWP) was up 6 points last week to 54.94 cents/lb.
May 25 Cotton closed at 70.47, down 147 points,
Jul 25 Cotton closed at 67.38, down 45 points, currently up 19 points
Dec 25 Cotton closed at 69.25, down 27 points, currently up 18 points
