Cotton futures were 16 to 35 points lower across most contracts on Monday, as pressure continues to show up. The US dollar index was back up $0.273 on the session to $99.005, with crude oil $0.63/barrel higher.
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.” The markets had a little more positive reaction to open the week.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Friday’s online auction from The Seam showed 318 bales sold with an average price of 58.15 cents/lb. The Cotlook A Index was back down 50 points on Friday at 76.05 cents. ICE certified cotton stocks were steady on October 10, with the certified stocks level at 16,471 bales.
Dec 25 Cotton closed at 63.59, down 25 points,
Mar 26 Cotton closed at 65.26, down 34 points,
May 26 Cotton closed at 66.56, down 33 points
On the date of publication,
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.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Source link
