Cotton Futures Rise Slightly Amid Mixed Commodity Markets

Cotton futures concluded Monday with prices steady to 30 points higher. In contrast, crude oil experienced a decline, falling by $1.05 as OPEC+ announced an increase of 411,000 barrels per day starting in June. Additionally, the US dollar index decreased by $0.240, settling at 99.600.

Cotton Crop Progress and Sale Insights

Recent Crop Progress data indicated that 21% of the US cotton crop was planted as of May 4, outpacing the average planting pace of 20%. However, this figure lags behind the 23% from the same time last year.

The online auction from The Seam on May 2 recorded sales of 1,133 bales at an average price of 60.17 cents per pound. The Cotlook A Index also saw a decrease, dropping 25 points to 77.25. Furthermore, ICE cotton stocks remained unchanged as of May 2, maintaining a certified stock level of 14,577 bales. USDA’s Adjusted World Price (AWP) rose by 6 points last week, reaching 54.94 cents per pound, effective through this Thursday.

Market Closing Prices for Cotton Contracts

On May 25, Cotton closed at 70.35, marking an increase of 17 points. The July 25 Cotton contract closed at 68.42, up 1 point, while December 25 Cotton finished at 69.98, gaining 27 points.

On the date of publication, Austin Schroeder did not have direct or indirect positions in any of the securities mentioned in this article. All information provided is for informational purposes only. For further details, please view the Barchart Disclosure Policy
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