The cotton is down 100 to 172 points across most contracts on Friday. The outside market influences are not helpful at midday, as the US dollar index is slightly higher, with crude oil down 82 cents.

USDA’s final cotton production estimate was released at 12.07 million bales this morning, as the WAOB trimmed the old crop carryout total by 100,000 bales to 2.4 million. For new crop, initial production is seen at 16 million bales, with the stocks total building to 3.7 million bales.

For the world side of the balance sheet, WAOB took the 23/24 carryout 2.6 million bales lighter to 80.48 million, mainly on a smaller carryin. The 24/25 ending stocks figure is projected to build by 2.53 million bales to 83.01 million. 

The Seam reported 440 bales sold on Thursday at an average price of 73.25 cents/lb. ICE certified cotton stocks were down 1,492 on decertification on May 8 at 166,487 bales. The Cotlook A Index was up another 250 points on May 8 at 87.90 cents/lb. The AWP dropped another 91 points to 59.64 on Thursday and is good through next week.

Jul 24 Cotton  is at 77.47, down 113 points,

Oct 24 Cotton  is at 77.43, down 32 points,

Mar 25 Cotton  is at 76.97, down 104 points