Cotton and Crude Oil Futures Show Mixed Performance on Monday

Cotton futures experienced a recovery from midday lows, but still ended the day lower, declining between 14 to 55 points on Monday. In parallel, crude oil futures fell by $1.30 per barrel, while the US dollar index slid by $0.999, closing at 98.044.

Current Crop Conditions and Market Indicators

According to NASS, the US cotton crop is now 11% planted as of April 20, aligning with the five-year average pace. This planting figure reflects improvements in agricultural activity that may influence future market trends.

Additionally, CFTC Commitment of Traders data revealed that speculative funds increased their net short positions by 13,273 contracts, bringing the total to 42,418 contracts as of April 15.

Market Sales and Price Updates

The Seam reported the sale of 5,685 cash bales online on April 17, with an average price of 62.50 cents per pound. On the same day, the Cotlook A Index rose by 35 points to settle at 77.60 cents per pound. Furthermore, ICE cotton stocks remained constant as of April 17, with certified stocks totaling 14,478 bales. The USDA’s Adjusted World Price (AWP) also increased by 33 points last Thursday to reach 53.43 cents per pound.

Cotton Futures Closing Prices

May 25 Cotton closed at 65.77, down 55 points.

Jul 25 Cotton ended at 66.82, a decrease of 31 points.

Dec 25 Cotton wrapped up at 68.30, down 14 points.

On the date of publication, Austin Schroeder did not hold any positions, either directly or indirectly, in 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.

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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.