Cotton Futures Decline Amid Mixed Market Conditions

Cotton futures ended Thursday’s trading with losses ranging from 16 to 98 points. While the broader financial environment showed mixed results, crude oil prices dipped by 42 cents per barrel and the US dollar index fell by 397 points.

In the latest Weekly Export Sales report, upland cotton bookings for the 2024/25 marketing year reached 169,687 running bales (RB). This figure marks the second highest total of the marketing year and a seven-week high. Notably, Vietnam purchased 34,200 RB, followed closely by Pakistan with 33,800 RB, and China with 27,500 RB. Weekly shipments increased to 98,419 RB, with Pakistan receiving 27,500 RB and Bangladesh getting 13,600 RB.

According to The Seam, 3,778 bales were sold online on October 23 at an average price of 66 cents per pound. ICE cotton stocks remained stable on Tuesday at 174 certified bales. The Cotlook A Index held steady at 83.80 cents per pound on October 23, while the USDA Adjusted World Price (AWP) increased by 4 points to 59.28 cents per pound as of Thursday afternoon.

Mar 25 Cotton closed at 73.62, down 91 points.

May 25 Cotton closed at 75.03, down 83 points.

Jul 25 Cotton closed at 75.98, down 80 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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