Cotton futures are trading with 9 to 11 point losses at midday. Crude oil futures are up 68 cents per barrel at $59.87. The US dollar index up $0.108 at $98.230. The markets will be off on Monday for the Martin Luther King Jr. Day holiday. They will open back up on Monday evening.
Export Sales data has cotton export commitments at 6.937 million RB, which is 14% below last year. That is 60% of the USDA projection for exports and well behind the 79% average sales pace. Exports are 3.142 million RB, which is 27% of USDA’s estimate and lagging the 32% average shipping pace.
The January 15 online auction from The Seam showed sales of 59.12 cents/lb on 11,430 bales. The Cotlook A Index was unchanged on 1/15 at 75.05 cents. ICE certified cotton stocks were unchanged on Thursday with the certified stocks level at 11,029 bales. The Adjusted World Price was updated to 51.17 cents/lb on Thursday, up 20 points from the week prior.
Mar 26 Cotton is at 64.6, down 11 points,
May 26 Cotton is at 66.18, down 9 points,
Jul 26 Cotton is at 67.6, down 9 points
