Cotton futures dropped by 115 to 120 points in the front months as of September 17, 2023. The Cotlook A index decreased by 25 points to 94.35, while ICE certified cotton stocks remained steady at 36,617 bales. The Adjusted World Price declined by 59 points to 68.92 cents per pound.
The most recent export sales report showed commitments of 4.5 million running bales of cotton, marking a 13% increase over the five-year average as of September 10. This represents 39% of the USDA’s export forecast, though it lags behind the 48% average pace for this time of year.
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