Cotton Market Update: Prices Decline Amid External Pressures

Cotton prices experienced a decline today, falling 1 to 31 points during the midday session on Wednesday. Various external factors are contributing to this downward trend. Specifically, crude oil futures decreased by 30 cents per barrel, while the US dollar index rose by $0.087.

Market Data and Trends

The Seam reported 3,282 bales in online sales on February 25, with an average price of 62.14 cents per pound. Additionally, the Cotlook A Index rose by 60 points on February 24, reaching 78.50 cents per pound. ICE cotton stocks remained unchanged as of Tuesday, totaling 1,732 bales of certified stocks. Last week, the USDA increased its Adjusted World Price (AWP) by 68 points to 54.67 cents per pound. This figure will be updated again on Thursday afternoon.

Current Cotton Prices

Mar 25 Cotton: 65.95, down 1 point

May 25 Cotton: 67.06, down 31 points

Jul 25 Cotton: 68.02, down 28 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 for informational purposes only. For more information, please view the Barchart Disclosure Policy.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.