Cotton futures prices showed stability in Thursday trading, following gains of 43 to 53 points across most contracts on Wednesday. As of the last trading day, July 25 Cotton closed at 66.44 cents, October 25 Cotton at 67.87 cents, and December 25 Cotton at 68.32 cents.
In the upcoming June 30 Acreage report, traders anticipate US cotton acreage to reach 10 million acres. The Seam’s online auction reported only 182 bales sold at an average price of 59 cents, while ICE cotton stocks fell by 1,196 bales to 61,136 bales as of June 24. Additionally, the USDA’s Adjusted World Price last week rose to 54.03 cents per pound.
