banner-slide-3

News Details

Home / News / DTN Cotton Close

DTN Cotton Close

DTN Closing Cotton: Cotton Chops Sideways Friday

April 14, 2023

The market traded positive and negative Friday, as outside influences kept cotton from any serious attempt at posting higher prices.

The market traded positive and negative Friday, as outside influences kept cotton from any serious attempt at posting higher prices. The Dow was triple-digit lower, while gold melted some $48 down. Meanwhile, the U.S. dollar traded higher. The financial markets are concerned with another rate hike for the Federal Reserve. As of Friday, there is an 85% consensus that the central bank will do that at its May meeting. 

On Monday, USDA will update the planting progress of the 2023 crop. Currently, there is no rain for West Texas forecast for the next one to five days. Moreover, the six- to 10- and the eight- to 14-day outlooks show above-normal temperatures and below-normal rainfall. 

Retail sales for March fell by 1% the Commerce Department reported Friday. Fears of rising interest rates, bank failures and an imminent recession are causing the U.S. consumer to obviously rein in their spending.

Friday afternoon, the CFTC will update its Commitment of Traders report. At last count, the managed-money funds were net short some 17,274 contracts.

As of Friday's settlement, May cotton is down 0.34 cent on the week, up 0.08 cent on the month and down 0.59 cent for the year.

Lastly, options on spot May futures will expire Friday on the close.

Friday, May 2023 finished at 82.86 cents, down 0.49 cent, July settled at 82.93 cents, down 0.26 cent and December 2023 ended at 82.80 cents, 0.08 cent lower. Estimated volume was 52,396 contracts.

Latest News & Reports

PCCA Cotton Market Weekly

JULY 26, 2024 December futures sank to their lowest level in over two years. • Price press...

Read More...

U.S. EXPORT SALES

For Week Ending 18-Jul-2024 Net Upland Sales 2023-24 Net sales reductions of Upland totaling...

Read More...

CAI President interview on CNBC Awaz

Sub : budget and new technology seed Watch full Video on Youtube: https://youtu.be/t4JqXUQhAR4...

Read More...

Shurely on Cotton

Price Prospects Become Dimmer – For Now July 19, 2024 USDA’s July crop production and su...

Read More...

Cleveland on Cotton

Seesaw Trading Leads the Cotton Market Nowhere July 19, 2024 USDA’s July world supply demand...

Read More...