Cotton Futures Decline Amid External Market Pressures

Cotton futures experienced losses on Thursday, dropping between 22 to 50 points for most contracts. This downturn is influenced by outside market conditions, particularly with crude oil trading down $0.35 per barrel and the US dollar index increasing by 190 points.

The Seam reported online sales of 2,657 bales on October 16, with an average price of 69.08 cents per pound. On Tuesday, ICE cotton stocks remained steady, showing 174 bales of certified stocks. The Cotlook A Index decreased by 50 points on October 16, landing at 82.30 cents per pound. Additionally, the USDA Adjusted World Price (AWP) saw a further reduction of 117 points last week, bringing it to 59.24 cents per pound.

Mar 25 Cotton closed at 72.85, a decrease of 49 points.

May 25 Cotton finished at 74.31, down 48 points.

Jul 25 Cotton ended at 75.26, losing 44 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 are solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

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