Cotton Futures Decline Despite Supportive Market Conditions

Cotton prices fell while crude oil rises, alongside fluctuating dollar value

Cotton futures closed down on Thursday, with contracts decreasing between 20 to 27 cents. Although outside market indicators were supportive, they had little effect on cotton prices. In contrast, crude oil futures increased by 28 cents per barrel, and the US dollar index decreased by $0.818.

The Seam reported 5,968 bales sold online on February 19, with an average price of 60.04 cents per pound. The Cotlook A Index rose by 60 points on Wednesday, reaching 79.40 cents per pound. Following an increase in ICE cotton stocks on Tuesday, certified stocks remained unchanged at 1,732 bales as of February 19. Additionally, the USDA has raised the Adjusted World Price (AWP) by 68 points this week to 54.67 cents per pound.

Mar 25 Cotton closed at 65.97, down 27 points.

May 25 Cotton closed at 67.47, down 21 points.

Jul 25 Cotton closed at 68.47, down 20 points.

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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