Cotton futures declined as of Wednesday, closing down 7 to 12 points in the front months. Specifically, March 26 cotton ended at 62.24 cents per pound, May 26 at 63.99 cents, and July 26 at 65.72 cents. In related markets, crude oil futures rose by $1.26 per barrel to $64.47, while the US dollar index increased by 0.214 to 97.515.
On Tuesday, an online auction conducted by The Seam recorded sales at 55.62 cents per pound for 8,680 bales. The Cotlook A Index also saw a drop, decreasing 45 points to 73.35 cents as of February 3, while ICE certified cotton stocks increased by 2,247 bales, reaching a total of 36,515 bales. The Adjusted World Price was last updated to 50.23 cents per pound.
