Cotton Futures Rise Amid Mixed Market Conditions
Cotton futures saw gains of 10 to 12 points on Wednesday, reflecting a positive shift in the market. Meanwhile, outside markets displayed mixed results: crude oil prices dropped by 48 cents per barrel, and the US dollar index faced downward pressure with a 1% loss during the day.
Market Sales and Stock Updates
According to The Seam, there were 4,242 bales sold online on November 26, with an average price of 68.68 cents per pound. ICE cotton stocks remained unchanged at 13,274 bales of certified stocks as reported on Tuesday. The Cotlook A Index increased by 100 points, reaching 82.10 cents per pound on November 26. Additionally, the USDA Adjusted World Price (AWP) dropped by 229 points last Thursday to 55.91 cents per pound, with an update scheduled for Friday due to the holiday.
Future Price Movements
Current prices for cotton futures include:
- Mar 25 Cotton: 71.8, up 12 points
- May 25 Cotton: 72.89, up 10 points
- Jul 25 Cotton: 73.87, up 10 points
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.
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