Cotton Futures Decline Amid Mixed Market Indicators

Cotton futures are trading lower, with contracts down 45 to 58 points as midday approaches. The external markets reflect a mix of influences: crude oil futures have increased by $0.22 per barrel, while the US dollar index is up $0.775, reaching $100.045.

Export Sales Data Shows Minor Gains

Recent export sales data revealed upland cotton bookings at 108,363 RB for the week of April 24, showing a slight uptick from the previous week. Notably, Malaysia purchased 25,600 RB, and Bangladesh acquired 25,400 RB. New crop sales were recorded at 32,900 RB. Additionally, shipments rose to 365,978 RB for that week, marking a three-week high.

Market Activity Overview

The online auction hosted by The Seam on Wednesday reported sales of only 117 bales at an average price of 54.12 cents per pound. The Cotlook A Index declined by 100 points on Wednesday, settling at 78 cents per pound. ICE cotton stocks remained unchanged on April 29, with certified stock levels at 14,478 bales. The USDA’s Adjusted World Price (AWP) saw an increase of 145 points last Thursday, reaching 54.88 cents per pound, with an update expected later today.

Current Cotton Futures Prices

May 25 Cotton is priced at 65.77, down 58 points.
Jul 25 Cotton stands at 65.55, down 47 points.
Dec 25 Cotton is at 67.34, down 45 points.

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data are solely for informational purposes. For further details, please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.