Cotton Futures Surge at the Start of New Year Amid Mixed Market Conditions

Cotton futures have experienced a notable rise, gaining between 62 and 67 points at midday on Thursday. As contracts kick off the new year with momentum, the broader market presents mixed signals. The US dollar index has climbed 839 points, while crude oil prices have increased by $1.60 per barrel.

Latest Sales and Stock Updates

The Seam recently reported 7,129 bales sold online on December 31, at an average price of 51.61 cents per pound. In addition, ICE cotton stocks remained steady on Tuesday, totaling 20,113 bales of certified stocks. Meanwhile, the Cotlook A Index saw a decrease of 50 points as of December 31, settling at 78.90 cents per pound. The USDA Adjusted World Price (AWP) was lowered by 54 points last week, bringing it down to 54.55 cents per pound, with an update expected later today.

Current Price Movements

Mar 25 Cotton is priced at 69.02, marking an increase of 62 points.

May 25 Cotton is at 70.15, up by 66 points.

Jul 25 Cotton is at 71.17, a rise of 67 points.

On the date of publication, Austin Schroeder did not hold positions in any mentioned securities, either directly or indirectly. All information and data in this article are intended for informational purposes only. For further insights, please review the Barchart Disclosure Policy here.

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