Cotton Futures Show Mixed Results Amid Positive Harvest Data

US Cotton Harvest Outpaces Normal Rate

Cotton futures wrapped up trading on Monday with a mixed bag of results, reflecting varied shifts in contract values. Prices fluctuated, with gains of 11 points contrasted by losses reaching 25 points. The broader market environment was favorable; notably, the US dollar index dropped 470 points, while crude oil futures increased by $2.22 per barrel.

Harvest Progress Tracker Updates

According to the Weekly Crop Progress report, as of November 17, 77% of the US cotton crop has been harvested, which is 5 percentage points ahead of the typical pace for this time of year.

Recent Cotton Sales and Stock Movements

The Seam recorded 1,840 bales sold online on November 15, with the average price standing at 72.51 cents per pound. Additionally, ICE cotton stocks saw an uptick of 1,123 bales from new certifications on Thursday, resulting in a total of 13,187 bales of certified stocks. The Cotlook A Index decreased by 50 points as of November 15, settling at 80.85 cents per pound. Conversely, the USDA Adjusted World Price (AWP) bounced back, gaining 24 points last week to reach 58.20 cents per pound.

Current Cotton Futures Prices

Mar 25 Cotton closed at 69.02, marking an increase of 11 points.

May 25 Cotton ended at 70.35, rising by 7 points.

Jul 25 Cotton finished at 71.57, up 6 points.

On the date of publication, Austin Schroeder did not hold any direct or indirect positions in the securities mentioned in this article. All information and data included are for informational purposes only. For more details, please refer to the Barchart Disclosure Policy here.

The views and opinions expressed herein reflect those of the author and do not necessarily represent the views of Nasdaq, Inc.