Cotton futures experienced losses between 15 to 30 points on Friday, with December 2024 cotton trading at 67 cents, down 15 points. In related market movements, the U.S. dollar index fell by 343 points, and crude oil prices decreased by $1.64 per barrel.
The USDA’s Export Sales report indicated that 4.213 million running bales (RB) of cotton have been sold or shipped for the 2024/25 marketing year, which amounts to 37% of the current USDA export forecast, but is 12 percentage points behind the five-year average. As of August 15, ICE cotton stocks remained unchanged at 15,526 bales, while the Cotlook A Index fell by 100 points to 78.45 cents per pound. The USDA Average World Price for the upcoming week is set at 55.35 cents per pound, an increase of 11 points from the prior week.
