[Cotton Futures Experience Mixed Trade on Friday Close]
Cotton futures posted a mixed reaction on Friday, with front‑month prices falling 51 to 60 points while deferred contracts increased by 8 to 11 points. The December contract climbed 156 points during the week. Crude oil dropped $2.17 per barrel, and the U.S. dollar index declined to 0.253.
Limited information was released concerning the diplomatic dialogue between the United States and China this week. Reports suggested that U.S. Trade Representative Acting Secretary Greer was seeking additional details to be released on Monday.
The Seam recorded sales of 164 bales on Thursday, averaging 78.01 cents per pound. The Cotlook A index held steady on September 24 at 93.25. Certified ICE cotton stocks remained unchanged on 9/24, sitting at 29,556 bales. The adjusted world price declined 283 points on Thursday to 66.09 cents per pound.
October 26 saw cotton close at 78.91, down 60 points, while Dec 26 closed at 82.71 off 60 points, and Mar 27 finished at 85.49, down 57 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 are provided for informational purposes only.
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