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Cotton Pressured Lower on ThursdayCotton futures are showing 26 to 96 point lower trade on Thursday at midday. The US dollar index back up 500 points after creeping below $101 on Wednesday, with crude oil up $1.40 per barrel. Export Sales data showed upland cotton sales of 93,008 RB in the week ending on August 15, down 16.17% from last week. Actual shipments were 168,837 RB in that week. The Seam reported online cash cotton sales on 2,679 bales at 64.88 cents/lb. ICE cotton stocks were unchanged on August 21, leaving 12,767 bales of cert stocks. The Cotlook A Index was up 65 points on August 21 at 80.65 cents/lb. The USDA Average World Price (AWP) is 55.35 cents/lb for the next week through Thursday, up 11 points on the week. Dec 24 Cotton is at 69.37, down 98 points, Mar 25 Cotton is at 70.86, down 76 points, May 25 Cotton is at 72.02, down 65 points On the date of publication, Alan Brugler 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. |
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