Cotton futures saw an uptick on Friday, with contracts up 14 to 17 points at the close. December was up 156 points this week. Crude oil futures fell 67 cents a barrel to $58.40 on the day, with the U.S. dollar index down $0.092 at $99.430.
The USDA export sales report showed that 175,678 RB of cotton were sold during the week of October 16, an increase of 11.45% from the previous week. Shipments were the largest this trading year with 159,631 RB.
The Seam’s Nov. 26 online auction showed 3,553 bales sold at an average price of 61.16 cents/pound. The Cotlook A index rose 45 points on Thursday to 74.95 cents. Stocks of ICE certified cotton were stable on 11/26 with a certified stock level at 20,344 bales. The adjusted global price was updated to 50.77 cents/pound this week, down 3 points from the previous week.
December 25 Cotton closed at 62.91, up 14 points,
March 26 Cotton closed at 64.71, up 14 points,
May 26 Cotton closed at 65.92, up 17 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
