Cotton Futures Close Lower Amid Mixed Market Conditions

Cotton futures ended the Thursday session with contracts declining between 16 to 36 points. Mixed influences from outside markets were noted, with crude oil futures rising by $0.77 per barrel. The US dollar index also increased, moving up $0.715 to $100.054.

Export Sales and Market Activity

Export Sales data revealed upland cotton bookings at 108,363 running bales (RB) for the week ending April 24, showing a slight increase from the previous week. Notably, Malaysia purchased 25,600 RB, while Bangladesh acquired 25,400 RB. New crop sales contributed 32,900 RB to the total. Additionally, shipments saw an uptick, reaching 365,978 RB during that week, marking a three-week high.

Recent Auction Results

The online auction held on Wednesday via The Seam recorded sales of merely 117 bales, with an average price of 54.12 cents per pound. On that day, the Cotlook A Index dropped 100 points, settling at 78 cents per pound. ICE cotton stocks remained stable as of April 29, with certified stocks recorded at 14,478 bales. The USDA’s Adjusted World Price (AWP) increased by 6 points this afternoon, now at 54.94 cents per pound, valid until next Thursday.

Cotton Futures Prices

May 25 Cotton closed at 65.61, down 16 points.

Jul 25 Cotton closed at 65.66, down 36 points.

Dec 25 Cotton closed at 67.43, down 36 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 information, please view the Barchart Disclosure Policy
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