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Cotton futures rallied on Thursday, with contracts closing 11 to 71 points higher. USDA Export Sales data revealed that 161,101 RB of old crop cotton were sold during the week ending April 9, marking a 4-week low but still 39.99% above the same week last year. Notably, Vietnam purchased 62,100 RB, while Turkey bought 49,000 RB. New crop business stood at 26,863 RB, primarily from Vietnam at 20,700 RB.
In prices, May cotton closed at 75.7 cents, up 59 points; July closed at 78.13 cents, up 71 points; and December closed at 78.99 cents, up 64 points. The average sale on The Seam was 72.16 cents/lb, while the Adjusted World Price increased by 287 points to 61.61 cents/lb.
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