Cotton futures experienced a decline on December 26, with losses ranging from 10 to 15 points, closing at 64.35 cents/lb for March contracts, 65.63 cents/lb for May, and 66.84 cents/lb for July. The day’s trading saw the sale of 9,181 bales at an average price of 60.31 cents/lb during an online auction on The Seam. Meanwhile, the Cotlook A Index rose by 50 points to 74.00 cents.
Crude oil futures increased by $1.09 to $57.83 per barrel, while the US dollar index remained steady at 97.700. As of December 26, ICE certified cotton stocks held steady at 11,600 bales, and the Adjusted World Price was updated to 50.02 cents/lb, a slight increase of 3 points from the prior week. The loan deficiency payment (LDP) rate is currently at 1.98 cents.
