Cotton Closes Thursday with Gains

Cotton futures posted Thursday gains of 22 to 61 points at the close. Crude oil was up $2.92 per barrel on the session, with the US dollar index $0.065 higher.

USDA’s Export Sales report showed 277,522 RB of cotton sales in the week ending in October 29, which was up 28.19% from last week and well above the same week last year. The largest buyer was Vietnam at 200,500 RB, with 30,700 RB to Pakistan. Shipments were tallied at 137,782 RB, which was back down 14.29% from last week and a 6% drop from the same week last year. The top destination was Vietnam at 43,500 RB, with 20,600 RB to Mexico.

The Seam reported 4,555 bales sold on 11/4, at an average of 76.34 cents/lb. The Cotlook A index was down 50 points on Thursday at 88.90. ICE certified cotton stocks were up 1,038 bales on November 4, with the certified stocks level at 66,716 bales. The Adjusted World Price was down 94 points last week to 63.57 cents/lb. 

Dec 26 Cotton  closed at 78.71, up 60 points,

Mar 27 Cotton  closed at 82.55, up 59 points,

May 27 Cotton  closed at 84.06, up 50 points