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Cotton futures prices declined on Monday, down 8 to 14 points after closing the previous Friday with losses ranging from 25 to 61 points. December futures fell by 54 points last week, influenced by an increase in the US dollar index to $97.305 and a decrease in crude oil prices by $0.93.
The USDA reported upland cotton export activity at 3.973 million running bales, a decrease of 18% from last year and only 36% of the USDA’s total export projection. The Cotlook A Index decreased by 45 points to 78.65 cents on September 18, while USDA’s Adjusted World Price rose by 69 points to 54.79 cents per pound.
As of September 18, ICE cotton certified stocks held steady at 15,474 bales. Currently, October cotton stands at 64.94 cents per pound, December at 66.29 cents, and March at 68.28 cents, reflecting respective drops of 25, 61, and 56 points.
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