Cotton Futures Show Strong Gains Amid Mixed Market Conditions

Cotton futures ended Monday’s trading session with notable increases, ranging from 53 to 95 points. While the cotton market thrived, outside market indicators displayed mixed signals, highlighted by a decrease of 667 points in the US dollar index and a $2.15 drop in crude oil futures per barrel.

US Cotton Harvest Progress Exceeds Average

The latest NASS Crop Progress report revealed that the US cotton harvest is now 84% complete, surpassing the 80% average based on the five-year trend. This progress reflects a robust agricultural season.

Market Sales and Stock Updates

On November 22, The Seam reported online sales totaling 7,084 bales, with an average selling price of 63.99 cents per pound. Meanwhile, ICE cotton stocks remained stable at 13,274 bales of certified stocks as of last Friday. The Cotlook A Index increased by 25 points on November 22, reaching a value of 80.95 cents per pound. In contrast, the USDA Adjusted World Price (AWP) saw a decrease of 229 points last Thursday, bringing it down to 55.91 cents per pound.

Cotton Future Prices

Mar 25 Cotton closed at 71.72, up 95 points.

May 25 Cotton closed at 72.72, up 83 points.

Jul 25 Cotton closed at 73.68, up 68 points.

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

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