Cotton price action is in the red so far on Friday morning, down 33 to 83 points. Prices failed to hold the early morning gains on Thursday, as the dollar index provided some pressure. Futures settled with front month losses of 17 to 27 points.  The outside markets were mixed factors. Crude oil futures were up $1.51/barrel, with the US dollar index $0.881 higher on the day. 

Export Sales data indicated a total of 166,875 RB of cotton booked during the week ending on February 20, a 7-week low. That was down 46.59% from the previous week but well above the same week last year. Export shipments were at 267,538 RB, a drop from last week’s MY high. That was still the second largest total we’ve seen so far this year. Total commitments for export sales are at 9.61 million RB, which is down 8% from last year and 93% of USDA’s export projection, on pace with normal.

The Seam showed 122 bales in online sales on February 26, with an average price of 56.56 cents/lb. The Cotlook A Index was back down 50 points on 2/26 at 78.00 cents/lb. ICE cotton stocks were up 10,921 bales on Wednesday on new certified bales with the current level at 12,653 bales of certified stocks. The USDA cut back their Adjusted World Price (AWP) on Thursday afternoon by 78 points to 53.89 cents/lb. 

Mar 25 Cotton  closed at 65.2, down 17 points, currently down 83 points

May 25 Cotton  closed at 66.6, down 27 points, currently down 80 points

Jul 25 Cotton  closed at 67.68, down 19 points, currently down 34 points