Cotton price action is up 30 to 55 points across most contracts on Wednesday morning. Futures are down 45 to 55 points in most front months on Tuesday. Crude oil was up $3.58 on the day to $74.81. The US dollar index is another $0.940 higher at $98.505. Uncertainty with China, as they have called for a halt to the strikes on Iran continues to be a pressure factor.
The Seam showed sales of 3,444 bales sold on March 2, averaging 61.70 cents/lb. The Cotlook A Index was back up 25 points on 3/2 at 75.90 cents. ICE certified cotton stocks were raised by 3,124 bales on Monday with the certified stocks level at 129,302 bales. The Adjusted World Price was raised by 1.79 cents last week to 51.84 cents/lb.
Mar 26 Cotton closed at 62.04, down 55 points, currently unch
May 26 Cotton closed at 64.04, down 55 points, currently up 52 points
Jul 26 Cotton closed at 65.95, down 46 points, currently up 51 points
