Cotton futures experienced slight losses on Wednesday, with nearby contracts closing down between 9 to 23 points. The most notable market movements included Oct 25 Cotton at 65.41 cents/lb (down 6 points), Dec 25 Cotton at 66.68 cents/lb (down 3 points), and Mar 26 Cotton at 68.44 cents/lb (down 9 points). The US dollar index decreased to 98.085 while crude oil futures increased by $0.61, providing some support for the cotton market.
The Seam reported the sale of 1,709 bales of cotton on Tuesday, with an average price of 63.91 cents/lb. As of August 26, the Cotlook A Index remained unchanged at 78.90 cents/lb, and certified ICE cotton stocks held steady at 15,474 bales. Additionally, USDA’s Adjusted World Price (AWP) rose by 48 points last week to 55.53 cents/lb, with an update scheduled for Thursday afternoon.
