Cotton price action is down 25 to 35 points to start December trade. Futures saw marginally higher trade on Friday, with contracts up 14 to 17 points at the close. December was up 156 points last week. Crude oil futures were down 67 cents per barrel at $58.40 on the day, with the US dollar index $0.092 lower to $99.430.
USDA’s Export Sales report showed 175,678 RB of cotton sold in the week of 10/16, back up 11.45% from the week prior. Shipments were the largest this marketing year at 159,631 RB. We will get more updated data for the week of 10/23 this morning.
The November 26 online auction from The Seam showed 3,553 bales sold at an average price of 61.16 cents/lb. The Cotlook A Index was up 45 points on Thursday at 74.95 cents. ICE certified cotton stocks were steady on 11/26 with the certified stocks level at 20,344 bales. The Adjusted World Price was updated to 50.77 cents/lb last week, down 3 points from the previous week.
