On Friday, cotton prices decreased by 9 to 25 points after a stronger trading session on Thursday, where futures rose between 62 to 64 points. The USDA reported a total of 179,333 RB of cotton sold for the week ending August 21, marking a 70.19% increase from the previous week and 92.81% above last year’s figures. Vietnam was the top buyer with 88,400 RB, followed by Bangladesh with 37,800 RB. However, shipments fell to their lowest level since November, totaling 112,656 RB.
The Seam reported 290 bales sold on Wednesday at an average price of 60.51 cents per pound, while the Cotlook A Index decreased by 70 points to 78.20 cents on August 27. ICE cotton stocks remained steady on August 27, with certified stocks at 15,474 bales. The USDA’s Adjusted World Price fell by 59 points to 54.94 cents per pound.
As of the latest closing, October 25 Cotton was at 66.04 cents (up 63 points, currently down 9 points), December 25 Cotton at 67.3 cents (up 62 points, currently down 25 points), and March 26 Cotton at 69.08 cents (up 64 points, currently down 22 points).
