Cotton Futures Slip Amid External Market Pressures

Cotton futures encountered selling pressure on Wednesday, with contracts declining by 5 to 26 points. This downturn coincided with fluctuations in external markets; crude oil prices fell by 9 cents per barrel, while the US dollar index advanced by 1,731 points, reaching 105.055.

Market Activity and Sales Reports

The Seam reported 1,661 bales of online cotton sales on November 5, averaging 66.05 cents per pound. On Tuesday, ICE cotton stocks remained unchanged at 174 bales of certified stock. Additionally, the Cotlook A Index held steady on November 5 at 82.20 cents per pound. Last week, the USDA Adjusted World Price (AWP) dipped by 74 points, settling at 58.54 cents per pound, with an update anticipated on Thursday afternoon.

Price Movements for March, May, and July Futures

Mar 25 Cotton closed at 72.08 cents, a decline of 24 points.

May 25 Cotton settled at 73.53 cents, down 20 points.

Jul 25 Cotton ended at 74.79 cents, decreasing by 22 points.

On the date of publication, Austin Schroeder did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For further details, please view the Barchart Disclosure Policy here.

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