Cotton Prices Hold Steady Midweek Amid Mixed Market Conditions
Market Overview: Crude Oil Declines While Cotton Gains Slightly
Cotton prices maintained gains during midweek trading, with contracts closing up between 2 to 12 points. This session was influenced by fluctuations in the broader market; crude oil futures fell by $2.10 per barrel, while the US dollar index increased by $0.057.
Current Cotton Stocks and Sales Activity
As of February 11, ICE cotton stocks stood at 218 bales of certified cotton. The Seam reported online cotton sales of 20,131 bales on the same day, with an average price of 62.17 cents per pound. Additionally, the Cotlook A Index rose by 100 points on Tuesday to reach 78.05 cents per pound. The USDA Adjusted World Price (AWP) was last reported at 53.18 cents per pound, with an update scheduled for tomorrow afternoon.
Cotton Contract Prices
For different delivery months, cotton futures prices are as follows:
- Mar 25 Cotton closed at 67.47, up 7 points.
- May 25 Cotton closed at 68.57, up 12 points.
- Jul 25 Cotton closed at 69.49, up 2 points.
On the date of publication, Austin Schroeder had no direct or indirect holdings in any of the securities mentioned in this article. All information and data in this article are provided for informational purposes only. For more information, please refer to the Barchart Disclosure Policy.
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