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Cotton Slipping Lower on Friday Morning
Cotton prices are posting 59 to 65 point losses on Friday morning. Futures posted point 24 to 37 point losses on Thursday. The dollar index was down another 276 points, with crude oil futures back up a 12 cents/barrel to add support. Export Sales data will be updated this morning. The Seam reported online cash sales of just 199 bales at an average price of 55.56 cents on Wednesday. ICE cotton stocks were down 1 bale on September 4, leaving 265 bales of cert stocks. The Cotlook A Index was up 50 points on September 3 at 81.70 cents/lb. Dec 24 Cotton closed at 69.44, down 37 points, currently down 64 points Mar 25 Cotton closed at 71.25, down 29 points, currently down 65 points May 25 Cotton closed at 72.51, down 24 points, currently down 63 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. |
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