Cotton Slips Lower into Monday’s Close

Cotton futures saw a decline on Monday, with contracts closing between 1 to 14 points lower. Meanwhile, crude oil futures experienced a $1.43 per barrel increase, reaching $57.95. The US dollar index also saw a decrease of $0.317, settling at $97.935.

According to the USDA’s Export Sales report, a total of 153,266 RB of cotton was sold in the week ending on December 4. While this marked a 3-week high for sales, it was 10.19% lower compared to the same week the previous year. Shipments during that week reached 101,577 RB, hitting a marketing year low.

The online auction held by The Seam on December 19 reported sales of 18,183 bales at an average price of 59.38 cents/lb. Additionally, the Cotlook A Index remained steady at 73.30 cents on the same date. ICE certified cotton stocks remained unchanged on Friday, with certified stocks level at 12,396 bales. The Adjusted World Price was updated on Thursday to 49.99 cents/lb, showing a 40 point drop from the previous week.

In terms of specific cotton futures, Mar 26 Cotton closed at 63.61, down 14 points, while May 26 Cotton closed at 64.78, down 6 points, and Jul 26 Cotton closed at 65.85, down 1 point.

It is important to note that on the date of publication, Austin Schroeder did not hold any positions in the mentioned securities. The information provided in this article is solely for informational purposes. This article was originally published on Barchart.com.