Cotton futures ended Wednesday’s session with mixed results, with contracts fluctuating between a 6-point decline and a 7-point gain. Market pressure mounted as crude oil prices dropped by 21 cents per barrel and the US dollar index climbed 372 points.
Market participants are now focusing on Thursday morning’s weekly Export Sales report, following a period of sluggish export activity over the past several weeks.
According to The Seam, 837 bales were sold online on October 8 at an average price of 70.25 cents/lb. ICE certified stocks remained steady on Tuesday at 265 bales. Additionally, the Cotlook A Index rose 25 points to 85.10 cents/lb on October 8. The USDA Adjusted World Price (AWP) was decreased by 25 points last week to 60.81 cents/lb and remains valid through tomorrow.
Dec 24 Cotton closed at 72.25, down 2 points.
Mar 25 Cotton closed at 74.36, down 6 points.
May 25 Cotton closed at 75.7, down 5 points.
