Cotton Prices Take a Hit Amid Mixed Market Conditions

Futures Drop as the Dollar Weakens and Oil Prices Decline

Cotton prices fell between 29 to 33 points on Tuesday morning. In the previous session, futures ended lower, with contracts showing declines of 10 to 31 points. Outside market factors exhibited a mixed trend, as the US dollar index decreased by 124 points and crude oil prices slipped by 65 cents per barrel.

On December 13, The Seam reported 5,661 bales of online cotton sales, averaging a price of 63.45 cents per pound. ICE cotton stocks remained stable, recording 20,113 bales of certified stocks as of Friday. The Cotlook A Index held steady on December 13 at 80.25 cents per pound. Additionally, the USDA Adjusted World Price (AWP) saw a reduction of 152 points on Thursday, falling to 56.22 cents per pound.

For specific futures contracts, the following prices were noted: Mar 25 Cotton closed at 69.06, down 21 points, and is currently down 33 points. May 25 Cotton closed at 70.22, down 19 points, with a current decrease of 33 points. Jul 25 Cotton closed at 71.27, down 14 points, currently down 30 points.

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

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