Cotton Futures Rise As Markets Show Mixed Signals

Cotton futures are gaining momentum, with an increase of 76 to 77 points as trading continues at midday on Tuesday. The overall market presents a mixed bag of factors; notably, crude oil futures have declined by 52 cents per barrel, while the US dollar index provides stability, down 992 points for the day.

National Consumption and Stock Levels

According to the Cotton Systems report released on Monday, a total of 216 RB (running bales) of cotton was consumed domestically in December, resulting in current stocks of 989 RB.

Online Sales and Market Indicators

The Seam reported that there were 4,407 bales sold online on February 3, with an average price of 59.81 cents per pound. On the same day, ICE cotton stocks remained unchanged at 218 certified bales. Additionally, the Cotlook A Index dropped by another 50 points on February 3, settling at 76.80 cents per pound. In contrast, the USDA Adjusted World Price (AWP) rose by 31 points from the previous week, closing last Thursday at 54.02 cents per pound.

March, May, and July Cotton Prices

Mar 25 Cotton is currently priced at 66.81, marking an increase of 77 points. May 25 Cotton is at 67.88, also up 77 points. Meanwhile, Jul 25 Cotton stands at 68.98, reflecting an increase of 76 points.

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

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