Cotton futures posted positive trade on Thursday, with contracts up 20 to 40 points on the day. Crude oil prices were up 43 cents/barrel, with the US dollar index showing steady trade at $98.670.
USDA’s Export Sales report showed 109,785 RB of 2024/25 cotton sold in the week ending on May 29, which was a 4-week low. Bangladesh was the top buyer of 34,200 RB, with 24,700 MT to Vietnam. New crop business came in at 38,984 RB, the highest in 7 weeks. Much of that was sold to Vietnam at 17,900 RB, Export Shipments were 316,134 RB, a 3-week high. Turkey was the top destination of 98,300 RB, with 87,400 RB headed to Vietnam.
Census data showed a total of 1.66 million bales of cotton (excluding linters) exported in April. That was a 3-year high, and 37.19% above last year, but a drop of 9.47% from March. Wednesday’s auction from The Seam showed 309 bales sold at an average price of 69 cents/lb. The Cotlook A Index was back down 35 points on 6/4 at 78.25. ICE cotton stocks were steady on June 4, with a certified stocks level of 53,700 bales.
Jul 25 Cotton closed at 65.36, up 37 points,
Oct 25 Cotton closed at 67.28, down 13 points,
Dec 25 Cotton closed at 67.98, up 21 points
Πηγή: barchart.com