Cotton futures are showing steady trade in the new crop contracts an 20 to 32 point losses in the front months on Friday. Crude oil is up $2.51 on the day to $98.09, with the US dollar index down $0.267 to $99.345.
Export Sales data has total cotton export commitments at 9.354 million RB, which is down 9% from last year. That is 83% of USDA’s forecast and lags the 96% average pace from the last 5 years. Shipments at 5.303 million RB are 5% below a year ago and 47% of the USDA export estimate, behind the 52% average shipping pace.
The Seam showed sales of 3,286 bales on March 19, averaging 65.60 cents/lb. The Cotlook A Index was steady on Thursday at 79.35 cents. ICE certified cotton stocks were unchanged on 3/18, with the certified stocks level at 115,640 bales. The Adjusted World Price was raised by 2.72 cents to 54.22 cents/lb on Thursday.
May 26 Cotton is at 67.35, down 32 points,
Jul 26 Cotton is at 69.36, down 25 points,
Dec 26 Cotton is at 71.99, unch
