Cotton prices are extending early Friday morning gains into midday, up 112 to 243 points.  Nearby July is the bull leader for the session. Futures closed the Thursday session with contracts 16 to 36 points lower. A strong US jobs number this morning (with unemployment UNCH at 4.2%) is supporting ideas for consumer demand.  Crude oil prices remain under pressure, with June futures down nearly $1 per barrel and with a $58 handle. Gold is up a sharp $18.70 per ounce in nearby May futures, perhaps putting in a little weekend risk premium. 

Export commitments for cotton have totaled 10.968 million RB, a 4% drop from the same period last year. That is now 108% of the USDA export forecast, and ahead of the 106% average sales pace. 

The Wednesday online auction from The Seam showed sales of just 117 bales at an average price of 54.12 cents/lb. The Cotlook A Index was down 50 points on Thursday at 77.50. ICE cotton stocks were steady on April 29 with a certified stocks level of 14,478 bales. USDA’s Adjusted World Price (AWP) was up 6 points on Thursday afternoon to 54.94 cents/lb. It is in effect through next Thursday.

May 25 Cotton  is at 65.61, down 16 points,

Jul 25 Cotton  is at 68.12, up 246 points,

Dec 25 Cotton  is at 69.49, up 206 points