Cotton futures closed on Thursday, March 26, with contracts falling by 38 to 41 points, bringing the March contract to 63.91 cents per pound, the May contract to 65.52 cents, and the July contract to 66.99 cents. Concurrently, crude oil futures declined by 95 cents per barrel, settling at $59.67, and the US dollar index dropped by $0.473 to 98.090.
An online auction on Wednesday reported sales of 17,692 bales at an average price of 59.15 cents per pound. The Cotlook A Index decreased by 25 points to 74.55 cents as of January 21, while ICE certified cotton stocks remained unchanged at 10,422 bales. The Adjusted World Price was updated to 50.99 cents per pound, reflecting a decline of 18 points from the previous week.
