Cotton prices are experiencing gains of up to 8 points in the front months as of Wednesday. This follows a decline of 29 to 36 points on Tuesday. Meanwhile, crude oil futures have risen by $1.92 per barrel to $65.14, and the US dollar index has increased by $0.269 to 97.570.
In an online auction conducted by The Seam on Tuesday, cotton was sold at 55.62 cents per pound for 8,680 bales. The Cotlook A Index dropped by 45 points to 73.35 cents as of February 3. Additionally, ICE certified cotton stocks rose by 2,247 bales, now totaling 36,515 bales. The Adjusted World Price was updated last week to 50.23 cents per pound.
Current cotton futures include Mar 26 Cotton at 62.39 (up 8 points), May 26 Cotton at 64.11 (unchanged), and Jul 26 Cotton at 65.81 (up 1 point).
