On Thursday, cotton prices increased by 41 to 58 points, with the October futures up 11 points. The US dollar index fell by $0.561 to $98.020, while crude oil futures decreased by $0.73 per barrel.
President Trump has announced plans to raise tariffs on India by 25% to 50%, effective August 27, if the country continues to purchase Russian oil. This comes amid ongoing tension regarding India’s oil imports.
The Seam reported cash online sales of 10 bales at an average price of 59.15 cents per pound. The Cotlook A Index rose 25 points to 77.75 cents as of August 4, while USDA’s Adjusted World Price was down 43 points, settling at 54.52 cents per pound.
