Cotton Futures Rise Amid Mixed Market Signals
On Wednesday, cotton futures concluded the session with contract prices climbing between 18 and 67 points. Mixed factors in the market included a rise in the US dollar index, which went up by 278 points, alongside a $1.77 increase in crude oil prices per barrel.
On Tuesday, the USDA announced an increase in the 2024/25 US cotton carryout, raising it by 100,000 bales to a total of 4.4 million bales due to heightened production estimates.
According to The Seam, there were 2,850 bales of online cotton sales reported on December 10, averaging 68.43 cents per pound. On the same day, ICE cotton stocks reflected 1,299 bales out of 19,231 bales in total certified stocks. Additionally, on December 10, the Cotlook A Index decreased by 25 points to 80.10 cents per pound. The USDA Adjusted World Price (AWP) saw an increase of 21 points last week, now standing at 57.74 cents per pound, with further updates expected on Thursday.
Mar 25 Cotton closed at 70.15, up 67 points.
May 25 Cotton ended at 71.27, gaining 58 points.
Jul 25 Cotton finished at 72.25, increasing by 50 points.
On the date of publication,
Austin Schroeder
did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy
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