Cotton futures closed out the Friday session with contracts up 40 to 55 points on the day, with December 44 points higher this week. Very little help was noted via the outside market factors on Friday, with crude oil up just 18 cents/barrel and the US dollar index up $0.218 to $98.310.
Early on Friday morning, President Trump he think’s we’ll be fine with China ahead of the leaders meeting in a couple weeks. He also stated the 100% tariffs on China are not sustainable.
Thursday online auction from The Seam showed just 155 bales sold with an average price of 63.01 cents/lb. The Cotlook A Index was back up 25 points on 10/16 at 75.10 cents. ICE certified cotton stocks were steady on October 16, with the certified stocks level at 16,751 bales. The AWP is still not being reported due to the government shutdown.
