Cotton futures rounded out the Friday session with contracts up 41 to 177 points at the close, with July up 54 points this week. The US dollar index was $0.179 lower at $97.765. Crude oil was down 13 cents at $94.68 at the close.
Managed money was adding another 12,829 contracts to their net long position in cotton futures and options in the week of May 5. That took their net long to 51,184 contracts, the largest since April 2024.
USDA’s Export Sales report now has cotton sale commitments at 10.82 million RB, which is 1% below the same period last year. That is 96% of the USDA estimate for full year cotton exports and behind the 103% average. Actual shipments are 7.72 million RB, or 69% of the USDA number and near the 70% average.
The Cotlook A Index was down 75 points on Thursday at 93.80 cents. ICE certified cotton stocks were up unchanged on May 8, with the certified stocks level at 182,132 bales. The Adjusted World Price was up another 393 points on Thursday afternoon at 69.59 cents/lb.
Jul 26 Cotton closed at 84.73, up 173 points,
Dec 26 Cotton closed at 85.46, up 177 points,
Mar 27 Cotton closed at 86.13, up 172 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.
More news from Barchart
- Grain Market Update: Are Iran Ceasefire Rumors Creating a Commodity Trap
- Ignore the Panic Over Falling Crude Oil Prices and Buy July SRW Wheat Here
- All Aboard! Grain Bulls Are Looking to Recreate Record Runs in Gold, Silver Prices
- Soybean Meal Is a Value-Buying Opportunity, And These Prices Highlight a Swing Trade Here