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Cotton Posting Friday GainsCotton futures are up 25 to 35 points so far on Friday. The outside markets are mixed, as the US dollar index is up 505 points and the highest 2 years. Crude oil futures are up $1.16/barrel. Export Sales data showed 2024/25 upland cotton shipments totaling 1.858 million RB for the marketing year, 17% below last year and just 18% of the full year USDA export forecast (22% normally). Commitments, including shipped and unshipped sales, are 6.364 million RB, a 16% drop from last year. That is 60% of USDA’s number, behind the 68% average export sales pace. The Seam reported 12,433 bales of online sales on November 21 at an average price of 69.57 cents/lb. ICE cotton stocks were unchanged again on Wednesday, at 13,274 bales of certified stocks. The Cotlook A Index was up 100 points on 11/21 at 80.70 cents/lb. The USDA Adjusted World Price (AWP) was lowered by 229 points on Thursday afternoon to 55.91 cents/lb. Mar 25 Cotton is at 70.75, up 32 points, May 25 Cotton is at 71.9, up 25 points, Jul 25 Cotton is at 73.06, up 26 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. |
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