Cotton futures recorded losses of 7 to 12 points on most contracts on Monday. Crude oil futures rose $1 a barrel to $59.55 on the day, while the U.S. dollar index fell $0.058 to $99.350.
The USDA export sales report showed that 132,760 RB of cotton were sold during the week of October 23, down 24.43% from the previous week. Shipments were the largest this trading year with 174,788 RB.
The Seam’s Nov. 28 online auction showed 3,605 bales sold at an average price of 59.75 cents/pound. The Cotlook A index was unchanged on Friday at 74.95 cents. Stocks of ICE certified cotton were stable on 11/28 with a certified stock level at 20,344 bales. The adjusted world price was updated to 50.77 cents/pound last week, down 3 points from the previous week.
December 25 Cotton closed at 62.83, down 8 points,
March 26 Cotton closed at 64.64, down 7 points,
May 26 Cotton closed at 65.8, down 12 points
As of the date of publication, Austin Schroeder had (directly or indirectly) no position in any of the securities mentioned in this article. All information and data contained in this article are for informational purposes only. This article was originally published on Barchart.com
