Cotton Prices Surge Amid Market Fluctuations

On Thursday, cotton prices have increased by 30 to 42 points. This follows a midweek rally on Wednesday, where futures saw gains ranging from 65 to 157 points. Although outside market pressures were present, they were largely ignored. Notably, the US dollar index rose by 457 points, while crude oil futures dipped 23 cents per barrel.

On November 19, The Seam reported 2,808 bales sold online, averaging a price of 64.18 cents per pound. Meanwhile, ICE cotton stocks remained steady at 13,274 bales of certified stocks as of Tuesday. The Cotlook A Index increased by 10 points on November 19, reaching 79.45 cents per pound. The USDA Adjusted World Price (AWP) also saw a rise of 24 points last week, landing at 58.20 cents per pound, with updates expected Thursday.

Recent closing prices for cotton futures are as follows:

• Mar 25 Cotton: closed at 70.28, up 103 points, currently up 42 points
• May 25 Cotton: closed at 71.51, up 101 points, currently up 33 points
• Jul 25 Cotton: closed at 72.65, up 97 points, currently up 30 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 is solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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