Cotton Futures Decline as Crop Progress Outpaces Average

Cotton futures experienced a decline on Monday, with contracts dropping between 47 to 125 points. In the broader market, crude oil futures fell by $1.14 per barrel, while the US dollar index decreased by $0.574, settling at 98.680.

According to NASS, the US cotton crop is currently 15% planted as of April 27, marking a pace that is one percentage point quicker than the five-year average.

The Seam reported that 4,649 cash bales were sold online on April 25 at an average price of 64.17 cents per pound. The Cotlook A Index increased by 25 points last Friday, now standing at 80.55 cents per pound. Additionally, ICE cotton stocks remained steady on April 25, with certified stocks recorded at 14,478 bales. The USDA’s Adjusted World Price (AWP) rose by 145 points last Thursday, reaching 54.88 cents per pound.

Cotton Future Prices

May 25 Cotton closed at 66.38, down 47 points.

Jul 25 Cotton closed at 67.55, down 125 points.

Dec 25 Cotton closed at 69.01, down 96 points.

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information, please view the Barchart Disclosure Policy
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