Cotton posted gains of 28 to 40 points on the Wednesday session to rebound from recent weakness. The July contract rolled off the board at 64.96. Crude oil was down 4 cents/barrel to close at $68.29, with the US dollar index $0.012 lower to $97.160.
Tuesday’s online auction from The Seam showed sales of 2,465 bales at an average price of 65.44 cents. The Cotlook A Index was down 40 points on 7/8 at 78.75. ICE cotton stocks were unchanged on July 8, with the certified stocks level at 37,989 bales. USDA’s Adjusted World Price (AWP) was up 116 points last Thursday at 55.34 cents/lb. It is good through Thursday.
Jul 25 Cotton closed at 64.96, up 28 points,
Oct 25 Cotton closed at 66.36, up 28 points,
Dec 25 Cotton closed at 67.78, up 40 points
Source: barchart.com