Cotton futures experienced losses of 5 to 11 points on Thursday, with October 25 cotton closing at 66.25, down 11 points, and December 25 cotton at 67.73, down 5 points. Crude oil dropped $1.51 per barrel to $66.86 while the US dollar index rose by $0.51 to 97.250.
In the week ending July 3, USDA Export Sales reported 75,089 RB of old crop cotton bookings, mainly to Vietnam (33,600 RB). New crop cotton sales reached 81,543 RB, with Bangladesh as the leading buyer at 23,100 RB. Total sales hit a three-week high of 156,632 RB, with shipments at 240,899 RB, 49.9% larger than the previous year, primarily heading to Vietnam (95,900 RB) and Turkey (46,400 RB).
Additionally, ICE cotton stocks declined by 2,642 bales to a certified level of 35,347 bales, and USDA’s Adjusted World Price (AWP) fell 63 points to 54.71 cents/lb.
