Cotton futures are trading with contracts up 95 to 110 points so far on Friday after falling lower early this morning. The US dollar index is $0.270 lower at $97.775. Crude oil is falling $11.27 on the day following Iran agreeing to open the Strait of Hormuz this morning.
USDA Export Sales data from Thursday has export commitments at 10.409 million RB, which is down 1% from a year ago. That is also 92% of USDA’s number and lags the 100% pace from the last 5 years. Exports are 6.71 million RB, which is 60% of USDA’s number, which is behind the 62% average pace.
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The Seam showed 4,014 bales sold on April 15 at an average of 74.94 cents/lb. The Cotlook A Index was 100 points higher on Thursday at 86.60 cents. ICE certified cotton stocks were steady on 4/16, with the certified stocks level at 162,367 bales. The Adjusted World Price was up another 287 points on Thursday at 61.61 cents/lb.
May 26 Cotton closed at 76.73, up 103 points,
Jul 26 Cotton closed at 79.23, up 110 points,
Dec 26 Cotton closed at 79.95, up 96 points
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