On Wednesday morning, cotton prices rose by 3 to 26 points following a strong close on Tuesday where futures were up by 55 to 68 points. The USDA’s latest WASDE report maintained U.S. cotton stocks at 4.4 million bales, while global stocks increased by 1.25 million bales to 76.39 million, attributed to higher supplies from Brazil and India.
On March 9, The Seam reported sales of 5,926 bales with an average price of 62.44 cents per pound. The Cotlook A Index increased by 10 points to 74.75 cents, while ICE certified cotton stocks fell by 6,518 bales to 121,986 bales due to decertification. The Adjusted World Price was decreased by 40 points to 51.44 cents per pound.
