On Tuesday, cotton prices fluctuated between 13 to 31 points in morning trade, following a weaker close on Monday where front month contracts fell by 45 to 53 points. Crude oil futures decreased by $2.88 to $62.33 per barrel, while the US dollar index rose by $0.581 to 97.440.
Prior to midday, President Trump announced via Truth Social that the US will lower tariffs on India from 25% to 18%. In exchange, India agreed to purchase over $500 billion worth of US energy, technology, and agricultural products. Historically, India has ranked among the top eight buyers of US cotton.
In Friday’s auction from The Seam, cotton sold at 56.571 cents per pound for 4,462 bales. The Cotlook A Index dipped 20 points to 73.95 cents, while ICE certified cotton stocks increased by 25,666 bales, reaching a total of 34,226 bales. The Adjusted World Price fell to 50.23 cents per pound, down 76 points from the previous week.
