AGL 8.30 Increased By ▲ 0.44 (5.6%)
ANL 10.59 Increased By ▲ 0.24 (2.32%)
AVN 78.60 Increased By ▲ 0.70 (0.9%)
BOP 5.45 Increased By ▲ 0.06 (1.11%)
CNERGY 5.59 Increased By ▲ 0.58 (11.58%)
EFERT 80.25 Decreased By ▼ -0.55 (-0.68%)
EPCL 69.60 Increased By ▲ 1.50 (2.2%)
FCCL 15.30 Increased By ▲ 0.74 (5.08%)
FFL 6.53 Increased By ▲ 0.33 (5.32%)
FLYNG 7.18 Increased By ▲ 0.53 (7.97%)
GGGL 10.85 Increased By ▲ 0.27 (2.55%)
GGL 16.79 Increased By ▲ 0.38 (2.32%)
GTECH 8.14 Increased By ▲ 0.02 (0.25%)
HUMNL 7.04 Increased By ▲ 0.02 (0.28%)
KEL 2.99 Increased By ▲ 0.11 (3.82%)
LOTCHEM 30.77 Increased By ▲ 2.24 (7.85%)
MLCF 28.98 Increased By ▲ 2.03 (7.53%)
OGDC 82.75 Increased By ▲ 0.60 (0.73%)
PAEL 16.97 Increased By ▲ 0.32 (1.92%)
PIBTL 6.08 Increased By ▲ 0.24 (4.11%)
PRL 18.10 Increased By ▲ 1.35 (8.06%)
SILK 1.15 Increased By ▲ 0.05 (4.55%)
TELE 11.25 Increased By ▲ 0.28 (2.55%)
TPL 9.20 Decreased By ▼ -0.02 (-0.22%)
TPLP 19.88 Increased By ▲ 0.22 (1.12%)
TREET 26.46 Increased By ▲ 0.55 (2.12%)
TRG 94.60 Increased By ▲ 0.99 (1.06%)
UNITY 19.50 Increased By ▲ 0.50 (2.63%)
WAVES 14.34 Increased By ▲ 0.78 (5.75%)
WTL 1.30 Increased By ▲ 0.06 (4.84%)
BR100 4,187 Increased By 80.1 (1.95%)
BR30 15,474 Increased By 343.5 (2.27%)
KSE100 42,096 Increased By 670.9 (1.62%)
KSE30 15,883 Increased By 222.7 (1.42%)

CHICAGO: ICE cotton futures fell to a one-week low on Friday and were on track for their third straight weekly decline, weighed down by a jump in the U.S. dollar.

The cotton contract for December fell 0.30 cent, or 0.3%, to 92.21 cents per lb by 11:43 a.m. ET (1543 GMT). The contract is down 1.3% so far this week. "The dollar is on the rise again. But the demand has been pretty good, issue is merchants don't have their hands on the crop yet, and cotton at 90 cents is a rich price," said Rogers Varner, president of Varner Brokerage in Cleveland, Mississippi. "On the technical front, cotton prices have good support around 92 cents and we have strong resistance at 95 cents." The dollar rose to a near four-week high against its rivals, potentially limiting demand for the natural fiber by making it more expensive for buyers holding other currencies.

On Thursday, the U.S. Department of Agriculture's weekly export sales report showed exports of 237,500 running bales (RB) of cotton, up 53% from the previous week. Sentiment on the Wall Street remained subdued as U.S. stock indexes slipped with major technology firms weighing the most, while uncertainty over higher corporate taxes and an upcoming Federal Reserve meeting kept traders to the sidelines.

Total futures market volume fell by 8,392 to 11,842 lots. Data showed total open interest fell 724 to 272,662 contracts in the previous session.

Certificated cotton stocks deliverable as of Sept. 15 totalled 63,515 480-lb bales, down from 64,455 in the previous session.

Comments

Comments are closed.