Cotton futures fell on Wednesday, with the July contract closing down 106 points at 64.99 cents per pound, October down 70 points at 67.41 cents, and December down 76 points at 67.77 cents. Crude oil prices decreased by 66 cents per barrel, while the US dollar index dropped by $0.404 to 98.755.
In related market activity, Tuesday’s auction from The Seam reported 1,957 bales sold at an average price of 62.04 cents per pound. The Cotlook A Index increased by 115 points to 78.60, and ICE cotton stocks remained steady at 53,700 bales as of June 3. USDA’s Adjusted World Price rose 32 points to 53.84 cents per pound, effective until Thursday.
