Cotton futures experienced losses ranging from 10 to 32 points during midday trading on January 28, with March 26 cotton priced at 63.41 cents and May 26 at 65.31 cents per pound. In stark contrast, crude oil futures rose by $2.10 to $65.33 per barrel. The US dollar index decreased by $0.139, settling at 96.135.
The latest export sales data reported 203,666 running bales (RB) of cotton sold for the week ending January 22, marking a three-week low, while shipments for the same period totaled 257,036 RB, the highest level since May. Additionally, November’s census trade data revealed cotton exports at 539,059 bales, the lowest in four years. The Adjusted World Price was recently updated to 50.99 cents per pound, down 18 points from the previous week.
