Cotton futures are weaker on Thursday, as USDA’s Export Sales data was weaker. Contracts are down 30 to 45 points at midday. The outside factors are back to mixed action, with crude oil futures up $1.11/barrel. The US dollar index is up $0.387 so far on the day. 

Cotton export sales totaled 101,058 RB in the week of March 13 the lowest for any week since October. That was still 9.11% larger than the same week last year. Vietnam was the buyer of 73,100 RB, with 18,300 RB sold to Pakistan. China canceled a total of 49,300 RB. New crop sales totaled 57,870 RB. Shipments were 351,003 RB, back down from the week prior. The largest destination was Vietnam at 84,900 RB with 80,500 RB to Pakistan.

The Seam showed just 205 bales sold online for Wednesday at an average price of 61 cents/lb. The Cotlook A Index was down another 50 points on 3/19 at 78.50 cents/lb. ICE cotton stocks were steady on March 19, with the current level of certified stocks at 14,488 bales. The USDA increased the weekly Adjusted World Price (AWP) by 188 points last Thursday to 53.76 cents/lb. It will be updated later today.

May 25 Cotton  is at 65.9, down 45 points,

Jul 25 Cotton  is at 67.39, down 45 points,

Dec 25 Cotton  is at 69.15, down 37 points