Cotton futures settled lower on Friday, by 18 to 39 points. Nearby May is in deliveries, and only one trade was reported for the entire day, at 80.07. Active December was down 33 points and settled just a few ticks off of the intraday low. The outside markets were mixed, with June Crude Oil up 28 cents to $83.85 per barrel. The US dollar index was up a sharp 353 points to 105.80 (June) as it put in some risk premium ahead of the weekend.
There were 198 contracts delivered against May cotton, all by BNP Paribas Securities. ICE certified cotton stocks were up another 3,283 bales on April 25 at 181,430 bales. The Cotlook A Index was down another 45 points to 87.80 cents/lb on April 25. The AWP dropped another 85 points to 61.33 in Thursday afternoon’s release and is in effect through next Thursday.
May 24 Cotton is at 80.07, up 49 points,
Jul 24 Cotton is at 81.35, up 27 points,