Cotton Futures Experience Mixed Performance Amid Market Adjustments

Cotton futures are showing a decline of 9 to 64 points in the old crop contracts this Friday, while December futures have increased by 11 points. Meanwhile, crude oil futures have risen by $1.21 per barrel. The US dollar index is experiencing further weakness, dropping $0.685 today to 99.920.

USDA Export Sales Data Analysis

The USDA’s Export Sales report released on Thursday revealed cotton export business totaling 10.553 million running bales (RB), which now represents 103.4% of the new USDA export projection. This figure aligns closely with the 5-year average sales pace, which stands at 103%. Additionally, export shipments have reached 6.761 million RB, making up 66.2% of the USDA’s revised number, also above the 5-year average pace of 62%.

Market Insights and Price Movements

The Seam reported the sale of 1,207 cash bales on April 10th, with an average price of 56.56 cents per pound. The Cotlook A Index saw an increase of 100 points on the same day, reaching 78.55 cents per pound. Certified ICE cotton stocks remained steady as of April 10th, totaling 14,488 bales. The USDA’s Adjusted World Price (AWP) decreased by 212 points on Thursday, settling at 53.10 cents per pound.

Current Cotton Futures Prices

May 25 Cotton: 65.83, down 64 points

Jul 25 Cotton: 66.91, down 9 points

Dec 25 Cotton: 68.39, up 11 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 are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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