Cotton Holding Steady on Thursday Morning

Cotton price action is down 22 to 10 points higher so far on Thursday morning. Futures posted strength on the Wednesday session with contracts up 25 to 93 points at the close. Crude oil was down 45 cents per barrel, with the US dollar index $0.227 higher.

The 7-day forecast remains relatively dry for much of Texas, with scattered light totals not seen over 0.25 inch. The Gulf is expected to see totals nearing an inch.

The Cotlook A Index was unchanged on Tuesday at 98.20 cents. ICE certified cotton stocks were up 2,567 on August 25, with the certified stocks level at 66,327 bales. The Adjusted World Price was raised by 143 points last week to 69.62 cents/lb. 

Oct 26 Cotton  closed at 87.77, up 69 points, currently down 22 points

Dec 26 Cotton  closed at 89.14, up 80 points, currently down 10 points

Mar 27 Cotton  closed at 91.07, up 84 points, currently down 9 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.