Cotton futures are following up Thursday’s limit gains with most contracts up another 116 to 150 points at Friday’s midday. The US dollar index is just $0.004 lower at $97.915. Crude oil is down $3.45 to $101.62.
Export Sales data has export commitments at 10.691 million RB, which is 2% below last year’s total for this time. That is also 95% of the USDA export projection and lags the 102% 5-year average sales pace.
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The Seam showed 5,415 bales sold on 4/30 at an average of 73.63 cents/lb. The Cotlook A Index was down 50 points on April 30 at 89.05 cents. ICE certified cotton stocks were up 1,585 bales on Thursday, with the certified stocks level at 167,266 bales. The Adjusted World Price was up another 40 points on Thursday afternoon to 65.66 cents/lb.
May 26 Cotton is at 79.86, unch,
Jul 26 Cotton is at 83.64, up 144 points,
Dec 26 Cotton is at 84.03, up 116 points
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