Cotton futures are currently trading 60 to 70 points lower across most contracts as of Wednesday. The USDA’s recent Crop Production report indicated a decrease in cotton production by 90,000 bales to 13.61 million bales, while acreage increased by 620,000 acres to 10.47 million. The yield has been reduced by 74 lbs per acre to 798 lbs. Old crop stocks remain at 4.2 million bales, with new crop stocks down 100,000 bales to 4 million.
On August 11, The Seam reported the sale of 517 bales at an average price of 75.24 cents. The Cotlook A Index dropped 50 points to 94.45 cents, and ICE certified cotton stocks decreased by 1,772 bales, now sitting at 80,714 bales. The Adjusted World Price increased by 163 points to 66.29 cents per pound. Current prices for cotton futures are: October 26 at 83.15 (up 6 points), December 26 at 83.69 (down 70 points), and March 27 at 85.58 (down 66 points).
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