Cotton prices dropped 5 to 82 points during the Thursday morning session, after seeing gains of 115 to 204 points in Wednesday’s trading. As of June 16, the Seam reported the sale of 396 bales at an average price of 67 cents. The Cotlook A Index increased by 45 points to 85.50 cents on June 15, while ICE certified cotton stocks remained steady at 192,699 bales.
In related market movements, crude oil fell 17 cents to $75.88, and the US dollar index rose $0.981 to $100.26. The Federal Reserve maintained interest rates following a two-day meeting on June 14-15. The Adjusted World Price for cotton decreased by 194 points last week to 61.26 cents per pound. Trading will conclude for the week on Friday in observance of Juneteenth.
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