Cotton Post Monday Losses on Outside Pressure

Austin Schroeder Barchart Mon Nov 11, 5:02PM CST
Rolls of cotton fabric by hanohiki via iStock

Cotton futures felt the weight of negative outside market influences, as contracts were down 46 to 129 points at the close. The outside markets continue to pressure the market, with crude oil down $2.24/barrel and the US dollar index back up 515 points on the day.

The Seam reported 2,681 bales of online sales on November 8 at an average price of 69.63 cents/lb. ICE cotton stocks were unchanged on Friday, leaving 174 bales of certified stocks. The Cotlook A Index was up 135 points on 11/8 at 83.35 cents/lb. The USDA Adjusted World Price (AWP) was down another 58 points last week to 57.96 cents/lb in Thursday afternoon’s report. 

 

Mar 25 Cotton  closed at 72.2, down 105 points,

May 25 Cotton  closed at 73.55, down 104 points,

Jul 25 Cotton  closed at 74.78, down 98 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.