Cotton Futures Decline Amid Mixed Commodity Market Trends

On Thursday, cotton futures experienced a dip, closing down between 40 and 47 points in the nearby contracts. Concurrently, crude oil prices fell by 77 cents, while the US dollar index rose by $0.400, reaching 99.835.

Export Sales and Shipment Data

Recent Export Sales data showed that 141,428 RB of cotton were sold during the week ending on May 15. This figure marks a five-week high but is still 30.31% lower than the same time last year. Vietnam emerged as the largest buyer, purchasing 61,800 RB, followed by Turkey with 19,400 RB. Meanwhile, total shipments totaled 251,531 RB, the lowest volume observed since January. Again, Vietnam was the primary destination, receiving 57,300 RB, while Pakistan imported 56,600 RB.

The Seam reported that 1,311 bales sold on May 21 at an average price of 72.07 cents. The Cotlook A Index rose by 65 points on Tuesday, reaching 78.25. As of May 21, ICE cotton stocks remained stable, with certified stocks listed at 39,796 bales. The USDA’s Adjusted World Price (AWP) also decreased, falling 38 points to 53.52 cents per pound.

Market Closing Prices

July 25 Cotton closed at 65.63, down 44 points.

October 25 Cotton closed at 68.18, down 47 points.

December 25 Cotton closed at 68.26, down 45 points.

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

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