Cotton futures closed on Thursday, January 14, with contracts declining by 22 to 28 points. The March 26 cotton futures settled at 64.71 cents per pound, while May and July contracts closed at 66.27 and 67.69 cents, respectively. Crude oil prices fell by $2.74 per barrel to $59.28, and the US dollar index decreased by 0.248 to 98.155.
For the week ending January 8, total upland cotton sales reached a marketing year high of 339,724 running bales (RB), which is over three times the previous week’s figures. Vietnam was the leading buyer with 127,400 RB, followed by China with 57,200 RB. Cotton shipments during the same week were recorded at 156,104 RB, the highest in 11 weeks, with Vietnam again as the primary destination at 56,200 RB.
Additionally, the online auction on January 14 saw sales at 59.07 cents per pound for 11,177 bales. The Cotlook A Index rose by 5 points to 75.05 cents, while the Adjusted World Price increased by 20 points to 51.17 cents per pound. ICE certified cotton stocks remained unchanged at 11,029 bales.
