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Cotton futures displayed mixed trading on Monday, October 9, 2023, with December contracts up slightly at 63.85 cents per pound, while other contracts saw a decline. The US dollar index increased by $0.233 to $98.965.
On October 6, President Trump announced a new 100% tariff on Chinese imports effective November 1, alongside export controls on critical software. Following a retraction of his comments over the weekend, market reactions suggested increased volatility.
In an auction held on October 6, The Seam reported the sale of 318 bales of cotton at an average price of 58.15 cents per pound. The Cotlook A Index decreased by 50 points to 76.05 cents, with ICE certified cotton stocks remaining unchanged at 16,471 bales as of October 10.
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