Cotton Futures Drop Amid Falling Crude Oil and Stronger Dollar

Cotton futures concluded Wednesday’s trading session with contracts decreasing between 47 and 58 points. Outside market conditions exerted downward pressure, as crude oil futures lost $2.23 per barrel, while the US dollar index climbed by 0.417 to reach 99.435.

Recent Market Activity

In an online auction on Tuesday, The Seam reported sales of 854 bales at an average price of 65 cents per pound. The Cotlook A Index experienced a decline, dropping 115 points on Tuesday to settle at 79 cents per pound. As of April 29, ICE reported cotton stocks remained steady with certified stocks totaling 14,478 bales. Additionally, the USDA’s Adjusted World Price (AWP) increased by 145 points last Thursday, bringing it to 54.88 cents per pound.

Closing Prices

May 25 Cotton closed at 65.77, down 58 points.

Jul 25 Cotton closed at 66.02, down 47 points.

Dec 25 Cotton closed at 67.79, down 48 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 is solely for informational purposes. For additional details, please view the Barchart Disclosure Policy
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