Cotton prices showed resilience on Wednesday morning, with futures up by 8 to 30 points after experiencing losses of 210 to 227 points across most contracts on Tuesday. In related market activity, crude oil futures declined by 33 cents per barrel, and the US dollar index fell by $1.159.
In response to President Trump’s introduction of a 10% tariff on Chinese imports, China retaliated with a 15% tariff on US cotton, affecting unshipped sales of 250,100 running bales to China. Recent auction data from The Seam reported the sale of 1,769 bales at an average price of 62.64 cents per pound, while the USDA adjusted the Adjusted World Price downward by 78 points to 53.89 cents per pound.
As of March 25, cotton futures closed at 62.04 (down 210 points), May futures at 63.24 (down 227 points but currently up 30 points), and July futures at 64.52 (down 210 points but currently up 29 points).
