Cotton Bulls Pushing Higher at Midday

Austin Schroeder Barchart Fri Mar 7, 12:19PM CST
Rolls of cotton fabric by hanohiki via iStock

Cotton futures are up 60 to 154 points so far on Friday. March futures expire today. The outside markets are supportive factors, with crude oil futures up 77 cents/barrel and the US dollar index down another $0.179 on the day.

USDA Export Sales data has total cotton export commitments at 9.852 million RB, a 6% decline from last year. That is 96% of the USDA export forecast and 1% ahead of the average export sales pace. 

Thursday’s online auction from The Seam saw 2,961 bales sold, with an average price of 59.94 cents/lb. The Cotlook A Index was back up 50 points on 3/6 at 75.45 cents/lb. ICE cotton stocks were up another 55 bales on March 6 with the current level of certified stocks at 14,488 bales. The USDA slashed their Adjusted World Price (AWP) on Thursday afternoon by 201 points to 51.88 cents/lb. 

Mar 25 Cotton  is at 63.9, up 154 points,

May 25 Cotton  is at 65.86, up 65 points,

Jul 25 Cotton  is at 66.98, up 65 points


On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.