Cotton Futures Tumble Amidst Rising Dollar

Cotton futures experienced a downturn on Thursday, closing down by 39 to 58 points. This decline was exacerbated by outside market pressures, particularly as the US dollar index rose significantly, increasing by 416 points. Meanwhile, crude oil futures saw a slight uptick of 9 cents.

According to The Seam, there were 1,780 bales sold online on November 13, with an average price of 62.34 cents per pound. Additionally, ICE cotton stocks rose by 11,050 bales, reaching a total of 11,224 bales in certified stocks. The Cotlook A Index decreased by 95 points on November 13, settling at 81.30 cents per pound. In contrast, the USDA Adjusted World Price (AWP) increased by 24 points this week, now standing at 58.20 cents per pound.

Mar 25 Cotton closed at 70.56, down 54 points.

May 25 Cotton closed at 71.86, down 52 points.

Jul 25 Cotton closed at 73.06, down 51 points.

On the date of publication, Austin Schroeder did not hold positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. For more information, please view the Barchart Disclosure Policy here.

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