Cotton Futures Experience Mixed Results Amid Crude Oil Gains

Cotton futures are trading lower this Friday, with front-month contracts down 55 points, while the thinner traded October futures have risen by 8 points. Meanwhile, crude oil prices have increased by $0.84 per barrel. The US dollar index has also shown a gain, rising $0.261 to 100.995.

Export Sales Update

Following the USDA’s Export Sales report released on Thursday, commitments for shipped and unshipped cotton sales have reached 11.155 million running bales (RB). This figure represents 108% of the USDA’s export projection and aligns with the five-year average sales pace. Additionally, export shipments total 8.471 million RB, reflecting 82% of the USDA projection, which is notably ahead of the 75% average.

Market Indicators

The Cotlook A Index fell by 75 points on Wednesday, now sitting at 77.25. ICE cotton stocks showed an increase of 1,053 bales due to new certifications as of May 15, leading to a certified stock level of 34,153 bales. The USDA’s Adjusted World Price (AWP) decreased by 91 points on Thursday to 53.90 cents per pound.

Cotton Futures Prices

Jul 25 Cotton is currently at 64.88, down 55 points.

Oct 25 Cotton is at 68.35, up 8 points.

Dec 25 Cotton is at 67.63, down 55 points.

On the date of publication, Austin Schroeder did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. For more details, please view the Barchart Disclosure Policy here.

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