Cotton Prices Decline Amid Broader Market Pressures

On Tuesday, cotton prices faced another downturn, with contracts falling between 50 and 55 points. This decrease comes as crude oil futures experienced a drop of $1.66 per barrel, while the US dollar index fell by $0.314 for the day.

The Cotlook A Index also saw a decline of 15 points on February 24, settling at 77.90 cents per pound. ICE cotton stocks remained unchanged on Monday at 1,732 bales of certified stocks. The Seam reported 6,184 bales in online sales on February 24, with an average price of 61.89 cents per pound. Additionally, the USDA increased their Adjusted World Price (AWP) by 68 points last week, now standing at 54.67 cents per pound. An update is expected this Thursday.

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Mar 25 Cotton: Closed at 65.96 cents, down 55 points.

May 25 Cotton: Closed at 67.37 cents, down 51 points.

Jul 25 Cotton: Closed at 68.30 cents, down 50 points.

On the date of publication, Austin Schroeder did not hold positions in any of the securities mentioned in this article. All information and data provided are for informational purposes only. For more details, please view the Barchart Disclosure Policy here.

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