Cotton prices are experiencing a decline, down 75 to 85 points as of Thursday’s midday trading. The US dollar index rose by $0.295 to reach 97.920, while crude oil futures increased by 90 cents per barrel, currently priced at $66.36.
Export sales data revealed a total of 253,229 running bales (RB) of cotton sold for the week ending February 19, marking a 45.69% decrease from the previous week and 18.95% lower than the same week last year. Shipments for the week totaled 193,005 RB, reflecting an 11.81% increase from the prior week. The Seam reported sales of 10,891 bales on February 25, averaging 60.73 cents per pound.
As of the latest update, ICE certified cotton stocks remain stable at 119,457 bales, and the Adjusted World Price stands at 50.05 cents per pound. March Cotton is currently at 64.17 cents, May Cotton at 65.34 cents (down 83 points), and July Cotton at 67.05 cents (down 75 points).
