Cotton Futures Decline 157 to 180 Points Amid Market Weakness

Cotton futures experienced losses on Monday, with prices dropping between 157 to 180 points as market weakness reemerged. In related commodities, crude oil futures rose by 6 cents per barrel. The US dollar index continued its downward trend, closing down by $0.452 at $99.440.

US Cotton Crop Progress Behind Average Pace

Latest Weekly Crop Progress data indicates that only 5% of the US cotton crop has been planted, falling short of the average pace of 8%. This slow planting rate raises concerns as the growing season progresses.

Market Activity and Price Highlights

On April 11, The Seam reported just 31 cash bales sold, with an average price of 56 cents per pound. The Cotlook A Index fell by 25 points on Friday, landing at 78.30 cents per pound. Additionally, ICE cotton stocks saw a minor decrease, with 10 bales down due to decertification, bringing certified stocks to 14,478 bales. The USDA’s Adjusted World Price (AWP) dropped by 212 points last week, now at 53.10 cents per pound.

Cotton Futures Close on April 11

Prices for cotton futures on April 11 are as follows:

• May 25 Cotton closed at 64.09, down 180 points.
• Jul 25 Cotton closed at 65.35, down 166 points.
• Dec 25 Cotton closed at 66.94, down 157 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
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