On Thursday, cotton prices are recovering, increasing by 6 to 12 points in most front months, except for the October contract. On Wednesday, the prices fell between 17 to 40 points due to a stronger dollar, which gained $1.063 to rise to an index level of 99.71 following the Federal Reserve’s decision to keep interest rates unchanged. Crude oil prices also increased by $1.09 per barrel.
On Tuesday, The Seam reported sales of 309 bales at an average price of 60.29 cents per pound. The Cotlook A Index rose 10 points to 78.80 cents as of July 29. ICE cotton stocks remained stable on July 29, with certified levels at 21,617 bales. The USDA’s Adjusted World Price (AWP) increased by 23 points last week to 54.95 cents per pound, valid through Thursday.
