Cotton prices fell by 95 to 110 points on Tuesday morning following a rally on Monday where futures rose between 152 and 304 points. As of May 10, 29% of the U.S. cotton crop has been planted, slightly ahead of the 5-year average of 28%. Crude oil prices increased by $2.83, reaching $98.25 on Monday.
The Cotlook A Index declined by 100 points as of May 8, settling at 92.80 cents. ICE certified cotton stocks rose by 89 bales to a total of 182,221 bales. The Adjusted World Price increased by 393 points to 69.59 cents per pound.
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