Cotton price action is down 3 to 16 points in the front months, as new crop is slightly higher on Friday morning. Futures saw weakness on Thursday, as contracts retreated 70 to 85 points lower in the nearbys. Crude oil futures were up just 4 cents per barrel on the day at $65.46. The US dollar index was up $0.100 at $97.725.
Export Sales data from this morning showed a total of 253,229 RB of cotton sold in the week ending on February 19. That was a 45.69% decline from the week prior and 18.95% below the same week last year. Bangladesh was the largest buyer at 70,700 RB, with 59,700 RB sold to India. Shipments were tallied at 193,005 RB in that week, which was back up 11.81% from the previous week. Vietnam was the top destination of 74,200 RB, with 21,300 RB sold to Pakistan.
