Cotton futures traded slightly higher on Friday, with contracts up between 14 and 17 points at the close. December rose 156 points this week. Crude oil futures were down 67 cents a barrel at $58.40 on the day, with the US dollar index down $0.092 at $99.430.
The USDA export sales report showed that 175,678 RB of cotton were sold in the week of 10/16, an increase of 11.45% from the previous week. Shipments were the highest this business year at 159,631 RB.
The Seam’s Nov. 26 online auction showed 3,553 bales sold at an average price of 61.16 cents/pound. The Cotlook A index rose 45 points on Thursday to 74.95 cents. Stocks of ICE certified cotton were stable on November 26 with a certified stock level of 20,344 bales. The adjusted world price was updated to 50.77 cents/lb this week, 3 points lower than the previous week.
December 25 Cotton closed at 62.91, an increase of 14 points.
March 26 Cotton closed at 64.71, up 14 points.
May 26 Cotton closed at 65.92, up 17 points
As of the date of publication, Austin Schroeder had no (directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. This article was originally published on Barchart.com