Cotton Bouncing Back on Friday Morning

Cotton prices are trading with gains of 66 to 87 points across the front months early on Friday. Futures closed the Thursday session with contracts 16 to 36 points lower. The outside markets were mixed factors, with crude oil futures up $0.77/barrel and the US dollar index $0.715 higher to $100.054. Export Sales data showed upland cotton bookings at 108,363 RB in the week of 4/24, back up slightly from the week prior. Malaysia was the buyer of 25,600 RB, with Bangladesh in for 25,400 RB. New crop sales totaled 32,900 RB. Shipments improved to 365,978 RB during that week, a 3-week high.The Wednesday online auction from The Seam showed sales of just 117 bales at an average price of 54.12 cents/lb. The Cotlook A Index was down 100 points on Wednesday at 78 cents/lb. ICE cotton stocks were steady on April 29 with a certified stocks level of 14,478 bales. USDA’s Adjusted World Price (AWP) was up 6 points this afternoon to 54.94 cents/lb. It is good through next Thursday.May 25 Cotton closed at 65.61, down 16 points, currently unchJul 25 Cotton closed at 65.66, down 36 points, currently up 88 pointsDec 25 Cotton closed at 67.43, down 36 points, currently up 71 points On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.