Cotton futures continue to be under pressure, with losses of 83 to 100 points in most contracts at Wednesday’s close. The US dollar index was weaker, down 90 points at 104.085 for nearby futures. Crude oil rebounded from yesterday’s sell off, up 33 cents at $77.29 per barrel. The focus, however, was on the wetter weather expected for parts of the southeast in the coming week.
ICE cotton stocks were unchanged on July 23, leaving 38,466 bales of cert stocks. The Cotlook A Index was down 15 points on July 23 at 80.90 cents/lb. The USDA Average World Price (AWP) was raised 34 points to 56.42 cents/lb, last week and is in effect through Thursday.
Dec 24 Cotton closed at 68.65, down 83 points,
Mar 25 Cotton closed at 70.41, down 95 points,
May 25 Cotton closed at 71.82, down 100 points