Cotton Prices Fluctuate While US Crop Planting Lags Average

Cotton prices are experiencing slight losses, down 5 points in the front months early on Tuesday. The futures market finished the Monday session with contracts climbing 65 to 75 points. Additionally, crude oil prices increased by $0.21 per barrel, while the US dollar index fell by 0.726 to 100.220.

Cotton Crop Progress Below Average

According to the latest NASS report, the US cotton crop is 40% planted as of Sunday. This figure lags slightly behind the 5-year average of 43%.

Current Market Data

The Seam reported sales of 707 bales on May 16, with an average price of 56.15 cents. The Cotlook A Index remained unchanged at 77.25 as of Friday. ICE cotton stocks were steady on May 16, holding at 34,153 bales. The USDA’s Adjusted World Price (AWP) decreased by 91 points on Thursday, reaching 53.90 cents per pound.

Recent Closing Prices

July 25 Cotton closed at 65.64, increasing by 75 points, but is currently down by 1 point. Meanwhile, October 25 Cotton closed at 68.32, up 74 points and remains unchanged. December 25 Cotton closed at 68.34, a rise of 67 points, but is currently down 4 points.

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

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