On January 14, the market saw cotton prices increase by 3 to 6 cents, following a Thursday session where futures dropped by 22 to 28 points. Concurrently, crude oil futures decreased by $2.74 to $59.28 per barrel, while the US dollar index fell by $0.248 to 98.155. Markets will be closed on January 17 for the Martin Luther King Jr. Day holiday.
Export sales data reported 339,724 running bales of upland cotton sold in the week ending January 8, marking a marketing year high and more than tripling the previous week’s figures. Vietnam topped the buyers list with 127,400 RB, followed by China with 57,200 RB. Shipments reached 156,104 RB, an 11-week high, with Vietnam again leading at 56,200 RB.
The January 14 online auction from The Seam showed sales at 59.07 cents per pound on 11,177 bales. The Cotlook A Index increased by 5 points to 75.05 cents as of January 14, while ICE certified cotton stocks remained unchanged at 11,029 bales.
