Cotton Futures Decline Amid Crude Oil and Dollar Weakness

Cotton futures faced a downturn of 45 to 80 points on Wednesday, affecting most front months. Additionally, crude oil prices slipped by $0.78 per barrel. The US dollar index fell by $0.074, settling at 100.873.

Market Insights

The online auction from The Seam on Monday reported sales of 1,415 bales, with an average price of 68.86 cents per pound. Meanwhile, the Cotlook A Index remained stable on Tuesday at 78.25. On May 13, ICE cotton stocks increased by 5,860 bales due to new certifications, bringing certified stocks to 33,100 bales. The USDA’s Adjusted World Price (AWP) decreased by 13 points last Thursday, now at 54.81 cents per pound.

Recent Cotton Futures Closing Prices

Jul 25 Cotton closed at 65.48, down 80 points.

Oct 25 Cotton closed at 68.37, down 46 points.

Dec 25 Cotton closed at 68.25, down 52 points.

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

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