Cotton futures experienced a decline on Monday, with contracts falling by 30 to 127 points. The May contract closed at 80.58 cents per pound, while July and December contracts ended at 82.92 and 83.68 cents, respectively. Concurrently, the US dollar index increased by $0.146 to $98.065, and crude oil prices rose by $3.20 to $105.14.
As of May 3, the USDA’s NASS Crop Progress report indicated that 21% of the US cotton crop has been planted, surpassing the five-year average of 19%. Additionally, data from The Seam showed that 4,756 bales were sold on May 1 at an average price of 77.92 cents per pound. The Cotlook A Index was noted at 92.05 cents, having risen by 300 points, while ICE certified cotton stocks climbed to 179,741 bales, an increase of 12,475 bales on May 1. The Adjusted World Price also increased to 65.66 cents per pound, up 40 points last week.
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