Cotton Showing Slight Recovery on Monday Morning
Cotton price action is up 10 to 17 points. Futures posted losses on Friday, with contracts pulling back 60 to 77 cents in the nearbys. December was down 146 points last week. The US dollar index was back down $0.665 on the Friday session to $98.620, with crude oil $3.31/barrel lower and below the $60 level.
On Friday, President Trump announced a new 100% tariff on Chinese goods starting November 1, as well as imposing export controls on any critical software. Later over the weekend he stated to “don’t worry about China,” with markets taking a whiplash approach back higher on the walk back.
The Cotlook A Index was back up 50 points on Thursday at 76.55 cents. ICE certified cotton stocks were steady on October 9, with the certified stocks level at 16,471 bales.
Dec 25 Cotton closed at 63.84, down 63 points, currently up 17 points
Mar 26 Cotton closed at 65.6, down 74 points, currently up 13 points
May 26 Cotton closed at 66.89, down 77 points currently up 10 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.
