Cotton futures declined on Wednesday, with March contracts closing at 64.3 cents/lb, down 4 points, while May and July contracts fell by 4 points and 3 points, respectively. The Seam’s Tuesday online auction reported sales at 61.10 cents/lb on 25,238 bales.
Crude oil futures increased by 31 cents, reaching $60.67 per barrel, while the US dollar index rose by $0.146 to 98.585. The Adjusted World Price for cotton was updated to 51.17 cents/lb, a 20-point increase from the previous week. ICE certified cotton stocks decreased by 607 bales to a total of 10,422 bales as of January 20.
