Cotton Futures Rise Ahead of Key Reports
On Thursday, cotton futures gained ground, with increases ranging from 27 to 37 points as traders prepared for upcoming reports. Market influences were varied; notably, the US dollar index climbed 84 points, while crude oil prices rose by $0.97 per barrel.
Delayed Reports Due to National Mourning
The release of the weekly Export Sales report has been postponed to Friday, as government offices were closed for a National Day of Mourning in honor of President Carter’s funeral.
Market Data Snapshot
As of January 7, The Seam recorded 9,804 bales of online sales at an average price of 61.64 cents per pound. Meanwhile, ICE cotton stocks remained steady at 20,113 bales of certified stocks as of Wednesday. The Cotlook A Index dropped by 10 points on January 8, settling at 78.95 cents per pound. Additionally, the USDA Adjusted World Price (AWP) increased by 48 points from the previous week, reaching 55.03 cents per pound last Thursday.
Recent Cotton Futures Closings
Mar 25 Cotton closed at 68.5 cents, up 27 points.
May 25 Cotton ended at 69.68 cents, rising by 31 points.
Jul 25 Cotton finished at 70.77 cents, with an increase of 37 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 provided for informational purposes only. For more details, please view the
Barchart Disclosure Policy.
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