Cotton futures fell by 34 to 51 points at midday, with March 26 cotton trading at 63.14 cents/lb, May 26 at 64.86 cents/lb, and July 26 at 66.53 cents/lb. In contrast, crude oil futures rose by $0.85, reaching $64.57 per barrel.
As of January 22, cotton export commitments stood at 7.553 million running bales (RB), a decrease of 13% compared to the previous year, representing 66% of the USDA’s export projections, significantly below the 84% five-year average. The Adjusted World Price was updated to 50.23 cents/lb, down 76 points from the prior week.
