**Cotton Market Update – May 9, 2023**
Cotton futures experienced gains ranging from 134 to 265 points on May 9, with May 26 Cotton at 83.23 cents, Jul 26 at 84.65 cents, and Dec 26 at 85.02 cents. The U.S. dollar index increased by $0.068, reaching $98.330, while crude oil prices decreased by $4.35, settling at $102.07.
As of May 3, 21% of the U.S. cotton crop has been planted, which is 2 percentage points ahead of the 5-year average of 19%. March cotton exports, excluding linters, stood at 1.683 million bales, marking a 57.02% increase from February but an 8.25% decrease compared to March of the previous year. Additionally, ICE certified cotton stocks rose by 451 bales to reach 180,192 bales. The Adjusted World Price rose by 40 points to 65.66 cents per pound, valid through Thursday.
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