On July 25, cotton prices rebounded with gains of 28 to 40 points, closing the July contract at 64.96 cents per pound. In related markets, crude oil decreased by 4 cents to finish at $68.29 per barrel, and the US dollar index fell by $0.012 to 97.160.
In Tuesday’s online auction from The Seam, 2,465 bales of cotton were sold at an average price of 65.44 cents. The Cotlook A Index decreased by 40 points, reaching 78.75. As of July 8, ICE cotton stocks remained unchanged at 37,989 bales, and USDA’s Adjusted World Price (AWP) rose by 116 points to 55.34 cents per pound.
