Cotton futures experienced a decline on Wednesday, with contracts dropping 6 to 73 points. The July 26 contract closed at 76.21 cents, down 73 points, while the December 26 and March 27 contracts closed at 80.67 and 82.1 cents, down 62 and 58 points, respectively. This drop occurred amidst stronger outside markets, as crude oil rose by $4.32 following US military actions in Iran.
On July 7, only 94 bales of cotton were sold at an average price of 65.76 cents, with the Cotlook A Index increasing by 150 points to 87.30 cents. ICE certified cotton stocks fell by 95 bales to a total of 184,939 bales, and the Adjusted World Price decreased by 194 points to 61.94 cents per pound.
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