Cotton Futures Slide Amid Mixed Market Signals and Upcoming Report

Cotton futures are experiencing losses ranging from 21 to 35 points as Tuesday progresses toward midday. Current external conditions are mixed, with crude oil futures decreasing by 24 cents per barrel, while the US dollar index is $0.176 lower thus far today.

Forecasts for Cotton Planting

Analysts surveyed by Bloomberg expect next Monday’s Prospective Planting report to indicate 9.9 million cotton acres. This projection varies between a range of 8.8 to 10.5 million acres.

Market Highlights

Recent data from The Seam reveals 672 bales sold online on March 24, averaging 54.91 cents per pound. Furthermore, the Cotlook A Index fell by 75 points on Monday, landing at 77.50 cents per pound. Meanwhile, ICE cotton stocks remained stable on March 21, with certified stocks holding steady at 14,488 bales. The USDA’s recent update on the Adjusted World Price (AWP) showed a rise of 87 points last Thursday, now standing at 54.63 cents per pound.

Current Cotton Futures Prices

May 25 Cotton is trading at 65.07, down 35 points.

Jul 25 Cotton is priced at 66.68, also down 35 points.

Dec 25 Cotton stands at 68.72, down 21 points.

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

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.