Cotton prices are down 30 to 35 points at midday, fading the overnight strength. Crude oil futures are up 83 cents per barrel at $59.79 on the day, with the US dollar index $0.129 high to $98.930.
Export Sales data for the week ending on October 30 showed just 81,530 RB of upland cotton sold. That was a marketing year low. Shipments in that week were 146,581 RB, which was a 3-week low.
The 12/3 online auction from The Seam showed 10,758 bales sold at an average price of 59.66 cents/lb. The Cotlook A Index was back down 15 points on Tuesday at 74.80 cents. ICE certified cotton stocks were steady on December 3 with the certified stocks level at 19,894 bales. The Adjusted World Price was updated to 50.77 cents/lb last week, down 3 points from the previous week. It will be updated later today.
Dec 25 Cotton is at 62.66, down 11 points,
Mar 26 Cotton is at 64.14, down 32 points,
May 26 Cotton is at 65.26, down 34 points
