Cotton futures are showing 2 to 5 point gains across most contracts on Tuesday. Crude oil futures are up another $1.70 per barrel at $61.20. The US dollar index was down $0.324 at $98.950.
NASS Cotton Ginnings data showed 11.962 million RB of cotton ginned as of January 1, which was down from a year ago by 1.023 million RB.
USDA showed cotton harvested acres up 430,000 acres, with yield down 73 lbs/acre, at 856 lbs. That took production down 0.35 million bales to 13.92 million. Ending stocks were 300,000 bales lower to 4.2 million.
The Monday online auction from The Seam showed sales of 60.09 cents/lb on 21,284 bales. The Cotlook A Index was down steady on January 12 at 74.45 cents. ICE certified cotton stocks were down 481 bales on 1/12 with the certified stocks level at 11,029 bales. The Adjusted World Price was updated to 50.97 cents/lb on Thursday afternoon, up 21 points from the week prior.
Mar 26 Cotton is at 64.93, up 2 points,
May 26 Cotton is at 66.46, up 2 points,
Jul 26 Cotton is at 67.91, up 5 points
On the date of publication, Austin Schroeder 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.
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