Cotton futures posted Friday gains of 10 to 22 points following an uptick in export business. March was up 116 points since last Friday and just 10 points since the end of October. The outside markets are mixed factors, with crude oil back down 94 cents/barrel and the US dollar index down 248 points
Export Sales data from this morning showed 324,072 RB of cotton sales for 2024/25, a MY high and 1.74% above last year. Pakistan was the buyer of 146,300 RB, with Vietnam buying 52,300 RB. Shipments were back slightly lower than the week prior at 130,318 RB, which was still 46.68% above the same week last year. Of that 25,200 RB was headed to Pakistan, with 18,700 RB to Mexico.
The Seam reported 3,554 bales of online sales on November 27 at an average price of 68.64 cents/lb. ICE cotton stocks were unchanged again on Thursday, at 13,274 bales of certified stocks. The Cotlook A Index was unchanged on 11/27 at 82.00 cents/lb. The USDA Adjusted World Price (AWP) was raised by 162 points last this week to 57.53 cents/lb.
Mar 25 Cotton closed at 71.93, up 18 points,
May 25 Cotton closed at 72.98, up 14 points,
Jul 25 Cotton closed at 73.93, up 10 points
Source: barchart.com