Cotton Back to Higher on Monday Morning

Cotton bunches by Tijana Drndarski via Unsplash

Cotton prices are posting 19 to 70 point higher trade as we begin a new week. Futures were down 112 to 138 points on Friday. The outside markets were mixed, with crude oil down 57 cents/barrel and the dollar index losing 537 points. Hurricane Beryl made landfall near Galveston, TX this morning and is expected to bring along precip amounts of up to 8” in parts of TX before the remnants move north toward MO and IL. 

Export Sales data from Friday morning showed an improvement in old crop cotton sales during the week that ended on June 27, to 115,352 RB. Sales of 63,600 RB were reported to China, with 27,600 RB to Vietnam. New crop was listed at 56,897 RB, with 30,800 RB to China. Export shipments were tallied at 175,798 RB, up 24.66% from the week prior. China was the top destination as well, at 62,200 RB, with 27,600 RB sold to Turkey. The marketing year ends July 31. 

ICE certified cotton stocks were down just 1 bale on decerts, to 53,790 bales on July 3. The Cotlook A Index was down 25 points on July 4 at 82.75 cents/lb. The USDA Average World Price (AWP) was cut by 43 points last week to 57.80 cents/lb on Friday morning. It is effective through next Thursday.

Jul 24 Cotton  closed at 67.31, down 137 points, currently unch

Dec 24 Cotton  closed at 70.98, down 138 points, currently up 21 points

Mar 25 Cotton  closed at 72.71, down 134 points, currently up 19 points


On the date of publication, Alan Brugler 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.