Cotton futures continued their upward trend on Thursday, with contracts rising by 70 to 85 points. The U.S. dollar index increased by $0.209 to $98.060, while crude oil prices climbed $3.09.
Recent USDA Export Sales data revealed a total of 161,101 running bales (RB) of old crop cotton sold during the week ending April 9, marking the lowest sales in six weeks but still 39.99% higher than the same time last year. Shipments during this period were reported at 305,029 RB, hitting a four-week low. In terms of pricing, The Seam reported 10,624 bales sold at an average of 72.16 cents per pound, and the Cotlook A Index was down 20 points to 85.60 cents as of April 15.
