Cotton futures are trading lower, with May contracts at 74.41 cents, down 12 points, July at 76.54 cents, down 9 points, and December at 77.21 cents, down 60 points. The US dollar index has decreased by $0.273 to $97.890, while crude oil prices have dropped by $6.53 amidst potential talks between the US and Iran.
As of April 16, 2023, the US cotton crop is reported at 7% planted, matching the average for this time of year. Notably, Texas is behind the average, with just 11% of its crop planted. On April 13, 3,172 bales were sold at an average of 72.95 cents per pound. ICE certified cotton stocks rose by 15,301 bales to a total of 159,512 bales.
