Cotton futures saw gains of 40 to 58 points across most contracts on Friday, October 26, with prices reaching 79.36 cents for the October contract, 81.17 cents for December, and 82.55 cents for March. The USDA’s monthly WASDE report indicated no changes in old crop stocks at 4.2 million bales while new crop stocks increased by 400,000 bales to 4.1 million, supported by a production boost to 13.7 million bales due to larger acreage data.
Additionally, crude oil prices fell by $1.00, and the US dollar index declined by $0.066. The Cotlook A Index dropped 50 points on Thursday to 89.75 cents, while ICE certified cotton stocks decreased by 26,320 bales, resulting in a total of 158,607 bales as of July 9. The Adjusted World Price rose by 92 points to 62.86 cents per pound.
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