As of May 1, cotton futures are showing varied results, with May contracts up 199 points to 81.85 cents/lb while July and December contracts are down 118 and 77 points, respectively. The U.S. dollar index increased by 0.355 to $98.360, and crude oil prices fell by $3.71 to $105.65.
Managed money increased their net long position in cotton futures and options by 3,891 contracts, bringing the total to 38,355 contracts as of April 28. The Seam reported the sale of 4,756 bales at an average price of 77.92 cents/lb on May 1, and ICE certified cotton stocks rose by 12,475 bales to reach 179,741 bales.
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