Cotton prices experienced a downturn early Thursday, dropping between 11 to 34 points. On Wednesday, futures exhibited mixed results, with contracts ranging from 38 points higher to 20 points lower. The US dollar index fell by $0.832 to $98.850. In related markets, crude oil prices decreased by $16.45 due to a recent two-week ceasefire between Iran and the US, although prices rebounded by $4.55 this morning as traffic through the Strait of Hormuz remains constrained.
On April 7, 4,433 bales of cotton were sold at an average price of 70.76 cents per pound. The Cotlook A Index increased by 105 points on Tuesday to reach 82.55 cents. ICE certified cotton stocks remained stable at 128,213 bales as of April 7, while the Adjusted World Price rose by 252 points last Thursday to 56.99 cents per pound.
