Cotton Sneaking Lower on Wednesday AM Trade

Austin Schroeder Barchart Wed May 14, 7:36AM CDT
Cotton yarn via Kelly Sikkema via Unsplash

Cotton price action has futures down 7 to 17 points early on Wednesday. Futures closed out the Tuesday session with contracts slipping 6 to 35 lower. Crude oil prices are trading with gains of $1.67/barrel. The US dollar index was back down $0.789 to $100.810.

Crop Progress data showed 28% of the US cotton crop planted as of 5/11, now behind the 31% average planting pace. Texas planting progress was 2 points back of average at 27%,w ith GA at 24%, behind the 28% average.

The Friday online auction from The Seam showed sales of 1,415 bales at an average price of 68.86 cents/lb. The Cotlook A Index was steady on Monday at 78.25. ICE cotton stocks were up 4,990 bales on May 12 on new certifications, with a certified stocks level of 27.240 bales. USDA’s Adjusted World Price (AWP) was back down 13 points last Thursday to 54.81 cents/lb. 

Jul 25 Cotton  closed at 66.28, down 35 points, currently down 17 points

Oct 25 Cotton  closed at 68.83, down 6 points, currently unch

Dec 25 Cotton  closed at 68.77, down 8 points, currently down 9 points


On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.