Cotton futures are posting 30 to 40 point gains at Friday’s midday, with thing March down 81 points. Crude oil futures are up $1.58 per barrel on the day at $66.80. The US dollar index is down $0.135 at $97.605.
Export Sales data from Thursday showed 8.75 million RB in cotton export commitments, down 9% from last year. That is 78% of USDA’s full marketing year export projection, behind the 91% average sales pace.
The Seam showed sales of 6,467 bales sold on 2/26, averaging 59.09 cents/lb. The Cotlook A Index was back up 60 points on Thursday at 76.45 cents. ICE certified cotton stocks were steady on February 26, with the certified stocks level at 119,457 bales. The Adjusted World Price was raised by 1.79 cents to 51.84 cents/lb.
Mar 26 Cotton is at 63.36, down 81 points,
May 26 Cotton is at 65.75, up 39 points,
Jul 26 Cotton is at 67.45, up 38 points
