Cotton Futures Experience Mixed Results as Harvest Progresses

Market Update: Cotton futures fluctuated by closing mixed on Tuesday, with contracts seeing swings from a rise of 17 points to a decrease of 21 points. External market influences were minimal, with the US dollar index increasing by 65 points and crude oil prices edging up by 3 cents per barrel.

The final Crop Progress report of the year revealed that the US cotton harvest is now 84% complete, outpacing the 5-year average pace of 80%.

As for sales data, The Seam reported 10,173 bales sold online on November 25, with an average price of 69.11 cents per pound. Meanwhile, ICE cotton stocks remained steady at 13,274 bales of certified inventory. The Cotlook A Index showed an upward trend, rising by 15 points to 81.10 cents per pound on November 25. Conversely, the USDA Adjusted World Price (AWP) took a hit last Thursday, dropping by 229 points to 55.91 cents per pound.

Mar 25 Cotton closed at 71.68, down 4 points.

May 25 Cotton closed at 72.79, up 7 points.

Jul 25 Cotton closed at 73.77, up 9 points.

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

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