Cotton futures closed on Thursday with contracts rising between 47 to 72 points. Specifically, the October 25 Cotton closed at 67.34 cents, Dec 25 Cotton at 68.71 cents, and Mar 26 Cotton at 70.13 cents. Crude oil futures increased by 95 cents per barrel, while the US dollar index rose by $0.277 to 97.220.
For the week ending July 17, the Export Sales data reported net reductions of 32,748 running bales (RB) for old crop cotton, while new crop net sales reached 132,624 RB, marking the second-largest figure this marketing year. Cotton shipments totaled 184,849 RB, with Vietnam being the leading buyer at 46,700 RB, followed by Pakistan at 28,500 RB.
The Seam reported 2,800 bales sold at an average price of 60.78 cents per pound on Wednesday. The Cotlook A Index increased by 5 points to 78.70 on July 23, while ICE cotton stocks decreased by 702 bales, bringing certified stocks to 21,635 bales. The USDA’s Adjusted World Price (AWP) rose by 23 points to 54.95 cents per pound.
