Cotton futures rose between 29 to 65 points on Friday, driven by external market influences, including a $4.16 increase in crude oil prices following Israel’s strikes on Iran. The US dollar index also increased by $0.129 to reach 98.03.
According to USDA’s Weekly Export Sales data, commitments reached 11.586 million running bales (RB), 8.2% above the raised USDA export projections. Actual shipments totaled 9.55 million RB, accounting for 89.2% of the USDA number and surpassing the 83% average shipping pace.
As of June 12, the Cotlook A Index remained unchanged at 78.05. ICE cotton stocks were steady at 62,212 bales, while the USDA’s Adjusted World Price (AWP) increased by 26 points to 54.02 cents/lb. Specific cotton futures prices included: Jul 25 at 65.43 (up 29 points), Oct 25 at 66.15 (up 63 points), and Dec 25 at 67.98 (up 51 points).
