Cotton Closes the Week with Strength

Cotton futures closed the Friday session with contracts 25 to 40 points higher, as March posted a 74 point gain this week. Crude oil futures were $1.45 per barrel lower at $56.90. The US dollar index was up $0.054 to $97.735. 

The 12/24 online auction from The Seam showed sales of 6,914 bales at an average price of 61.96 cents/lb. The Cotlook A Index was up 50 points on December 24 at 74.00 cents. ICE certified cotton stocks were steady on Wednesday with the certified stocks level at 11,600 bales. The Adjusted World Price remains at 49.99 cents/lb, after not being reported this week due to the government being closed for the holiday. 

Mar 26 Cotton  closed at 64.49, up 25 points,

May 26 Cotton  closed at 65.78, up 29 points,

Jul 26 Cotton  closed at 66.95, up 37 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.