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Cotton prices increased by 10 to 20 points on Tuesday morning, following a weaker trend on Monday where contracts closed 1 to 14 points lower. As of Tuesday, crude oil futures rose by $1.43 to $57.95 per barrel, while the US dollar index fell by $0.317 to 97.935.
According to the USDA’s Export Sales report for the week ending December 4, a total of 153,266 running bales (RB) of cotton were sold, marking a 3-week high but down 10.19% compared to the same week last year. Shipments for the week were reported at 101,577 RB, the lowest for the marketing year. Additionally, the Adjusted World Price for cotton dropped by 40 points to 49.99 cents/lb.
The latest online auction on December 19 recorded sales of 18,183 bales at an average price of 59.38 cents/lb, with the Cotlook A Index steady at 73.30 cents. ICE certified cotton stocks remained unchanged at 12,396 bales.
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