Austin Schroeder – Barchart
Mon Apr 28,
Cotton futures were weaker on Monday, with contracts down 47 to 125 points. The outside markets were mixed, with crude oil futures back down $1.14/barrel and the US dollar index down $0.574 to $98.680.
NASS pegged the US cotton crop at 15% planted as of 4/27, now 1 percentage point faster than the 5-year average pace. The Seam reported 4,649 cash bales sold online on 4/25, at an average price of 64.17 cents/lb. The Cotlook A Index was up 25 points on Friday at 80.55 cents/lb.
ICE cotton stocks were steady on April 25 with a certified stocks level of 14,478 bales. USDA’s Adjusted World Price (AWP) was up 145 points last Thursday to 54.88 cents/lb.
May 25 Cotton closed at 66.38, down 47 points, Jul 25 Cotton closed at 67.55, down 125 points, Dec 25 Cotton closed at 69.01, down 96 points. (Source: www.barchart.com)