Cotton prices decreased by 30 to 44 points on Thursday after a rally the previous day, where futures rose by 243 to 294 points in front-month contracts and 53 to 110 points in deferred contracts. As of August 18, the Cotlook A Index increased by 70 points to reach 96.00 cents, while ICE-certified cotton stocks fell by 1,986 bales, totaling 70,643 bales. The Adjusted World Price was updated to 68.19 cents per pound, valid through Thursday.
Weather forecasts indicate continued dryness across much of Texas and parts of the Delta over the next week, as reported by the NOAA 7-day QPF. In the futures market, October contracts closed at 87 cents (down 44 points), December at 88.35 cents (down 35 points), and March at 90.14 cents (down 35 points).
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