Cotton price action is up 35 to 46 points so far on Monday morning. Futures closed the Friday session with weakness, as contracts were down 11 to 26 points, with March slipping 48 points over the short week. Crude oil futures were down 9 cents per barrel at $57.41. The US dollar index was up $0.123 at $98.170.
The Seam’s online auction showed sales of 17,479 bales on December 31 at an average price of 65.40 cents/lb. The Cotlook A Index was back unchanged on Wednesday at 74.30 cents. ICE certified cotton stocks steady on 12/31 with the certified stocks level at 11,510 bales. The Adjusted World Price was updated to 50.76 cents/lb on Friday morning, up 74 points from the week prior. The LDP rate is now 1.24 cents.
Mar 26 Cotton closed at 64.01, down 26 points, currently up 40 points
May 26 Cotton closed at 65.37, down 23 points, currently up 43 points
Jul 26 Cotton closed at 66.72, down 11 points, currently up 46 points
