Cotton prices fell 3 to 6 points on Monday morning, with futures showing mixed results at Friday’s close. Front-month futures declined 51 to 60 points, while deferreds increased by 8 to 11 points. Despite a 156-point gain for December last week, current trading saw October cotton at 78.91 cents/pound (down 60 points) and December cotton at 82.71 cents/pound (down 60 points).
Following a US-China meeting, China excluded cotton from its tariff reduction list, while managed money reduced their net long position by 16,293 contracts to a total of 81,610 contracts as of September 22. Additionally, the Seam reported sales of 164 bales at an average price of 78.01 cents/lb, with ICE certified cotton stocks remaining steady at 29,556 bales on September 24. The Adjusted World Price dropped to 66.09 cents/lb, a decrease of 283 points.
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