Cotton futures experienced a mixed close on Thursday, March 11, 2023, with May contracts down 3 points to 65.14 cents per pound while July and October contracts saw increases of 7 points to 67.15 cents and 13 points to 69.01 cents, respectively. In other commodities, crude oil rose by $9.15 to $96.40, and the US dollar index increased by $0.535 to 99.760.
In the week ending March 5, 2023, export sales for cotton reached 253,177 running bales (RB), down from the previous week but 4.84% higher than the same period last year. Notably, Vietnam purchased 116,300 RB, while shipments totaled 370,131 RB, marking the highest weekly export volume since May 2022. Additionally, January cotton exports were reported at 927,984 bales, the lowest figure since 2016.
The Cotlook A Index increased by 55 points to 75.75 cents, and ICE certified cotton stocks declined by 1,936 bales to 119,517 bales. The Adjusted World Price rose by 6 points to 51.50 cents per pound.
