Cotton futures experienced mixed trading on April 7, with nearby May contracts rising by 32 points to 71.63 cents per pound, while other contracts saw decreases ranging from 2 to 10 points. The Seam reported the sale of 4,433 bales at an average price of 70.76 cents per pound, while ICE certified cotton stocks remained steady at 128,213 bales. The Adjusted World Price increased by 252 points to 56.99 cents per pound.
Meanwhile, the U.S. dollar index fell by $1.042 to $98.640, and crude oil prices dropped by $18.37 following a recent ceasefire between Iran and the U.S. that allowed for the reopening of the Strait of Hormuz, although traffic through the strait has been limited.
