Cotton prices fell 40 to 61 points on Thursday morning, following a rally that saw futures close up by 15 to 81 points on Wednesday. The US dollar index decreased by 0.354, settling at 99.405. Crude oil prices surged by $9.50 overnight, influenced by President Trump’s address regarding ongoing military actions in the Strait of Hormuz. Trading for the week will close early on Thursday, in observance of Good Friday.
On March 31, the Seam reported the sale of 19,245 bales of cotton at an average price of 73.86 cents per pound. The Cotton Outlook A Index increased by 75 points to 80.95 cents per pound, while ICE certified cotton stocks remained steady at 114,665 bales. The Adjusted World Price was adjusted upwards by 25 points to 54.47 cents per pound last Thursday.
