Cotton futures experienced a notable rebound on Turnaround Tuesday, closing up between 66 and 99 points. In contrast, crude oil futures slipped by 9 cents per barrel, while the US dollar index increased by $0.503, reaching $99.900.

Cotton Planting Progress Behind Average

The latest Weekly Crop Progress data reported that the US cotton crop is currently 5% planted, lagging behind the average pace of 8%. Only Alabama, Arizona, Missouri, and Tennessee demonstrated faster-than-average progress, with Texas falling 5 percentage points short of the average at 8%.

Market Insights on Cotton Sales and Prices

The Seam reported a modest sale of just 863 cash bales on April 14, with an average price of 58.60 cents per pound. Additionally, the Cotlook A Index decreased by 20 points on Monday, settling at 78.10 cents per pound. As of April 14, ICE cotton stocks remained stable at a certified level of 14,478 bales. The USDA’s Adjusted World Price (AWP) fell by 212 points last week to 53.10 cents per pound.

Recent Cotton Futures Closes

May 25 Cotton closed at 65.08, marking an increase of 99 points.

Jul 25 Cotton finished at 66.12, up by 77 points.

Dec 25 Cotton closed at 67.6, rising by 66 points.

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information, please view the Barchart Disclosure Policy
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