Cotton futures closed out the Wednesday session with contracts 52 to 66 in the red, as futures reverted lower from the USDA led rally on Tuesday. The US dollar index was back down $0.302 to $97.625, as crude oil futures were down another 45 cents.
The Seam reported 1,066 bales sold on the Tuesday online auction at an average price of 60.98 cents/lb. The Cotlook A Index was back up 20 points at 78.20 cents on August 12. ICE cotton stocks were steady on 8/11, with the certified stocks level at 18,242 bales. USDA’s Adjusted World Price (AWP) was down 13 points on last week at 54.39 cents/lb. It will be updated on Thursday
