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Cotton futures experienced midday gains of 20 to 30 points on Thursday, though October contracts were down 32 points. The USDA reported that for the week ending September 4, 129,598 RB of cotton were sold, marking a 3-year low, while shipments totaled 130,206 RB, a decline from the previous week. The U.S. dollar index fell by $0.252 to $97.505, with crude oil futures down $1.21.
On September 10, The Cotlook A Index rose 20 points to 77.85 cents, while ICE cotton stocks remained steady at 15,474 bales as of September 9. The USDA’s Adjusted World Price fell by 63 points last week, now at 54.31 cents/lb. As for specific cotton contracts, October is at 65.24 (down 32 points), December is at 66.96 (up 29 points), and March is at 68.84 (up 25 points).
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