Cotton price action is up 60 to 75 points on Friday morning. Futures continued the rally on Thursday, with contracts closing 11 to 71 points higher on the session. The US dollar index was $0.184 higher at $98.035. Crude oil was up $1.90 on the day.
USDA Export Sales data from this morning showed a total of 161,101 RB of old crop cotton sold in the week ending on April 9, the lowest in 6 weeks. That was still 39.99% above the same week last year. Vietnam purchased a total of 62,100 RB, with turkey purchasing 49,000 RB. New crop business was tallied at 26,863 RB. The largest buyer was Vietnam at 20,700 RB. Shipments were 305,029 RB in that week, a 4-week low. Vietnam was the top destination of 110,400 RB, with 35,900 RB headed to Pakistan.
