Cotton Closes Mixed on Thursday

Cotton futures were mixed across the board on Thursday, with front months down 7 to 9 points and deferreds up 6 to 12 points. Crude oil was up $2.90 per barrel on the session, with the US dollar index $0.078 lower. 

Harvest may be slowed in parts of he Southeast over the weekend, with hurricane Isaias bringing 2 to 5 inches across much of the region from the Mississippi River to the Atlantic.

USDA’s Export Sales report showed 165,070 RB of cotton sales in the week ending in October 1, which was down 18.51% from last week. Vietnam was the buyer of 61,800 RB, with 45,900 RB to Pakistan. Sales for 2027/28 were 56,058 RB, with 44,100 RB to China. Shipments were tallied at 161,588 RB, which was back up from last week and a 2.45% increase from the same week last year. Vietnam was the top destination of 39,600 RB, with 18,100 RB to India. 

The Seam reported sales on 1,421 bales on Wednesday at an average of 75.75 cents/lb. The Cotlook A index was up another 25 points on 10/7 at 91.70. ICE certified cotton stocks were unchanged on October 7, with the certified stocks level at 17,756 bales. The Adjusted World Price was down another 135 points on Thursday to 63.81 cents/lb

Oct 26 Cotton  closed at 76.21, down 9 points,

Dec 26 Cotton  closed at 79.94, down 9 points,

Mar 27 Cotton  closed at 83.03, down 9 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.