Cotton futures faced downward pressure on April 21, 2023, with May contracts falling 221 points to 76.05 cents per pound, while July contracts dropped 230 points to 78.56 cents, and December contracts fell 178 points to 80.01 cents. The US dollar index increased by 0.179, reaching $98.400, while crude oil surged by $3.93 to $93.60.
On the same day, 905 bales of cotton were sold at an average price of 74.69 cents per pound. The Cotlook A Index rose 35 points to 89.45 cents, and ICE certified cotton stocks increased by 893 bales, totaling 165,860 bales. The Adjusted World Price also saw a rise of 287 points last week, reaching 61.61 cents per pound.
