Cotton futures are experiencing losses of 90 to 98 points on Thursday, correcting from recent limit gains observed on Tuesday. This decline coincides with increased volatility in outside markets, particularly following the U.S. military action in Iran and President Trump’s declaration that the ceasefire is over. Crude oil prices surged by $4.09, while the U.S. dollar index rose by $0.087.
According to Census data, May saw 1.46 million bales of cotton exports, marking a 15.3% increase from last year, though down by 6.88% compared to the previous month, achieving a three-year high. Additionally, the Seam reported only 94 bales sold on July 7 at an average price of 65.76 cents, and ICE certified cotton stocks decreased by 95 bales to a total of 184,939 bales. The Adjusted World Price fell by 194 points last week to 61.94 cents per pound.
As of July 26, July Cotton is priced at 76.94 cents (up 299 points), December Cotton at 80.31 cents (down 98 points), and March Cotton at 81.74 cents (down 94 points).
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