Cotton futures are down 37 to 75 points so far at Friday’s midday. Early Crude oil strength provided some support, but they have since backed off to just 95 cents a barrel higher on the day. Premium is being added into the market with risks of a Middle East conflict expanding. The US dollar index is up 731 points at midday. 

USDA left the US cotton balance sheet alone this month, as they wait for final production data next month. Projected ending stocks are still at 2.5 million bales, though the US average farm price estimate was trimmed by a penny to 76 cents.

The Cotton On-Call report from CFTC showed unfixed call sales at 10,572 contracts for May as of 4/5, a 4,198 drop from the week previous. For July, unfixed call sales are 22,995 contracts, with the total at 68,015 contracts.  

The Cotlook A Index was back down 75 points to 91.40 cents/lb on April 11. The AWP dropped another 405 points to 65.48 yesterday and is good through next week.

May 24 Cotton  is at 82.7, down 67 points,

Jul 24 Cotton  is at 84.66, down 59 points,

Dec 24 Cotton  is at 80.12, down 57 points