Cotton futures experienced a downward trend on Wednesday, with most contracts recording losses ranging from 45 to 73 points. This movement comes as the US dollar index rose by $0.296 to reach $99.480, while Crude Oil prices climbed $1.96 to settle at $95.72.
According to The Seam, Tuesday’s sales totaled 137 bales with an average price of 69.80 cents/lb. Meanwhile, the Cotlook A Index increased by 55 points on June 2, reaching 86.2805 cents. ICE certified cotton stocks rose by 459 bales on June 2, bringing the total inventory to 243,450 bales. Additionally, the Adjusted World Price saw a decline of 519 points last week, falling to 63.49 cents/lb.
Current market positions are as follows:
July 26 Cotton is trading at 76.31, down 73 points.
December 26 Cotton is trading at 80.05, down 49 points.
March 27 Cotton is trading at 81.24, down 48 points.
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