Cotton International News
ICE cotton futures closed mixed on Friday. Nearby contracts were down 51 to 60 points, while deferred contracts were up 8 to 11 points. December cotton futures gained 156 points for the week. Crude oil prices fell $2.17 per barrel during the session, while the US Dollar Index was down 0.253 points.
On Friday, limited information was released regarding the discussions between the US and Chinese leaders earlier this week. Reports indicated that USTR Greer was expected to release more details on Monday.
According to the CFTC Commitment of Traders report, managed money reduced its net long position in cotton by 16,293 contracts during the week of September 22. Their net long position fell to 81,610 contracts.
According to the USDA Export Sales report, cotton export commitments stand at 4.735 million running bales (RB), up 17% from the same period last year. This represents 41% of the USDA’s full-year export projection, compared with the average sales pace of 49%.
According to The Seam, 164 bales were sold on Thursday at an average price of 78.01 cents per pound. The Cotlook A Index was unchanged at 93.25 on September 24. ICE certified cotton stocks were also unchanged on September 24 at 29,556 bales. The Adjusted World Price (AWP) fell 283 points on Thursday to 66.09 cents per pound.
