Cotton futures were weaker on Wednesday, with contracts closing down 40 to 47 points. Crude oil futures are back down 48 cents/barrel, as the US dollar index was $0.614 lower on the day, mostly coming following the tariff announcement.
President Trump’s “Liberation Day” tariffs came with reciprocal tariffs on Pakistan at 29%, Vietnam at 46%, and China at 34% (54% including the initial set of tariffs from earlier this year). Baseline tariffs of 10% were put on Turkey. They go into effect on April 9.
The Seam showed 21,595 bales in online sales on Tuesday at an average price of 63.75 cents/lb. The Cotlook A Index was back down 5 points on April 1at 78.85 cents/lb. ICE cotton stocks were unchanged on 4/1, with the current level of certified stocks at 14,488 bales. USDA’s Adjusted World Price (AWP) was back down 97 points in on Thursday afternoon report to 53.66 cents/lb.
May 25 Cotton closed at 67.8, down 45 points,
Jul 25 Cotton closed at 68.71, down 47 points,
Dec 25 Cotton closed at 70.39, down 42 points
Πηγή: barchart.com