Cotton futures were weaker on Monday, with contracts closing between 1 and 14 points lower. Crude oil futures rose $1.43 a barrel to $57.95. The US Dollar Index fell again by $0.317 to $97.935.
The USDA export sales report indicated a total of 153,266 RB of cotton sold in the week ending December 4. That was a three-week high for sales, but down 10.19% from the same week last year. Shipments were 101,577 RB that week, which was the lowest for the business year.
The Seam’s 12/19 online auction showed sales of 18,183 bales at an average price of 59.38 cents/pound. The Cotlook A index was stable on December 19 at 73.30 cents. ICE certified cotton stocks were unchanged on Friday with a certified stock level of 12,396 bales. The adjusted world price was updated Thursday to 49.99 cents/pound, a drop of 40 points from the previous week.
March 26 Cotton closed at 63.61, 14 points lower.
On May 26, cotton closed at 64.78, a drop of 6 points.
July 26 Cotton closed at 65.85, 1 point less
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