Cotton futures experienced declines on Tuesday, with May contracts closing at 74.34 cents per pound, down 19 points, while July and December contracts also fell, closing at 76.52 and 77.20 cents, down 11 and 61 points, respectively. The US dollar index dropped to $97.885, while crude oil prices fell by $7.01 amid potential US-Iran negotiations, although no official talks are confirmed.
As of Sunday, the NASS Crop Progress report indicated that the US cotton crop is 7% planted, aligning with the average; however, Texas is lagging with just 11% planted. On April 13, the Seam reported the sale of 3,172 bales at an average price of 72.95 cents per pound. Additionally, ICE certified cotton stocks rose by 15,301 bales to a total of 159,512 bales, while the Adjusted World Price increased by 175 points to 58.74 cents per pound.
