Cotton posted gains of 28 to 40 points on the Wednesday session to rebound from recent weakness. The July contract rolled off the board at 64.96. Crude oil was down 4 cents/barrel to close at $68.29, with the US dollar index $0.012 lower to $97.160.
Tuesday’s online auction from The Seam showed sales of 2,465 bales at an average price of 65.44 cents. The Cotlook A Index was down 40 points on 7/8 at 78.75. ICE cotton stocks were unchanged on July 8, with the certified stocks level at 37,989 bales. USDA’s Adjusted World Price (AWP) was up 116 points last Thursday at 55.34 cents/lb. It is good through Thursday.
