Cotton futures are experiencing gains of 7 to 8 points as of Wednesday’s midday trading session. Crude oil futures also saw an increase, rising 15 cents per barrel to $60.50, while the US dollar index climbed by $0.051 to reach 98.490.
On Tuesday, an online auction by The Seam recorded cotton sales at 61.10 cents per pound for a total of 25,238 bales. The Cotlook A Index remained steady at 74.80 cents as of January 20. Additionally, ICE certified cotton stocks dropped by 607 bales to a total of 10,422 bales, while the Adjusted World Price increased to 51.17 cents per pound, up 20 points from the previous week.
As for specific cotton futures, Mar 26 is priced at 64.42 cents (up 8 points), May 26 at 66.03 cents (up 7 points), and Jul 26 at 67.5 cents (up 7 points).
