Cotton prices fell on Thursday morning, with futures down 114 to 135 points; the October contract led with a decline of 66 points, closing at 80.44 cents per pound. Meanwhile, crude oil prices dropped by $3.69 per barrel, and the US dollar index increased by $0.719. This drop in cotton prices follows the Federal Reserve’s recent decision to raise rates by 0.25% and indicate the possibility of another hike later this year.
On September 15, the Seam reported an average sale price of 80.51 cents for 2,380 bales, while the Cotlook A index decreased by 150 points to 96.15. ICE certified cotton stocks fell by 532 bales, bringing the total to 37,930 bales, and the Adjusted World Price dropped by 441 points to 69.51 cents per pound.
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