Cotton price action is down 25 to 30 points early on Tuesday. Futures posted losses of 90 to 102 points in the front months on Monday. Crude oil was up $4.01 on the day following the US/Israel strikes on Iran over the weekend, but just over $4 off the overnight highs. The US dollar index was $0.940 higher at $98.505. Uncertainty with China, after they condemned the US strikes on Iran was a pressure factor.
The Seam showed sales of 3,011 bales sold on 2/27, averaging 62.83 cents/lb. The Cotlook A Index was back down 80 points on Thursday at 75.65 cents. ICE certified cotton stocks were raised by 6,721 bales on February 26, with the certified stocks level at 126,178 bales. The Adjusted World Price was raised by 1.79 cents last week to 51.84 cents/lb.
Mar 26 Cotton closed at 62.59, down 102 points, currently unch
May 26 Cotton closed at 64.59, down 102 points, currently down 30 points
Jul 26 Cotton closed at 66.41, down 91 points, currently down 24 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.
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