Cotton futures declined on May 24, 2023, with contracts falling between 8 to 65 points. The May 26 contract closed at 76.86 cents per pound, down 48 points, while July 26 and December 26 contracts closed at 79.20 and 80.46 cents respectively, down 47 and 65 points.
The US dollar index rose by $0.359 to reach 98.835, and crude oil prices increased by $8.56 to $108.49. On May 23, only 139 bales were sold at an average of 68 cents per pound, and ICE certified cotton stocks remained steady at 165,681 bales as of April 28. The Adjusted World Price rose 365 points to 65.26 cents per pound on May 25.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
