Cotton futures experienced a decline on Thursday, with contracts dropping between 42 to 55 points. The US dollar index increased by 12 points, while crude oil prices rose by 82 cents per barrel.
According to the USDA’s Export Sales report for the week ending August 1, net reductions of 949,600 running bales (RB) for the 2024/25 market year were recorded. This included cancellations of 603,200 RB to China, 372,200 RB to Pakistan, and 111,800 RB to Vietnam. Current forward sales and old crop carryovers total 4.102 million RB, while actual shipments for the old crop amounted to 738,075 metric tons, ending the marketing year at 11.07 million RB.
The Seam reported online cash cotton sales of 2,266 bales at an average price of 66.91 cents per pound. On August 7, ICE cotton stocks decreased by 270 bales, leaving 18,721 bales certified. The Cotlook A Index fell by 40 points to 78.70 cents per pound, while the USDA Average World Price increased by 130 points to 55.24 cents per pound, valid until next Thursday.
