Cotton futures saw gains between 42 to 70 points across various contracts on Friday, with May cotton at 69.83 cents, July at 72.08 cents, and December at 74.33 cents. The U.S. dollar index rose by $0.207 to $99.915, while crude oil increased by $4.32 to reach $98.80.
As of March 19, U.S. export sales for cotton were recorded at 9.556 million running bales (RB), reflecting a 7% decrease from the previous year, which brings total sales to 85% of the USDA’s export projection. A Reuters survey anticipates that cotton acreage for March will be around 9.229 million acres, slightly down from last year.
On March 26, the Seam reported the sale of 6,389 bales at an average price of 64.16 cents per pound, while the Cotlook A Index increased by 65 points to 78.85 cents. ICE certified cotton stocks remained unchanged at 114,665 bales, and the Adjusted World Price rose by 25 points to 54.47 cents per pound.
