Cotton futures experienced losses ranging from 30 to 50 points for most contracts on Wednesday. The US dollar index dropped by another $0.034, settling at $97.485, while crude oil prices decreased by 44 cents.
The online auction conducted by The Seam on Tuesday recorded 942 transactions, with an average price of 63.62 cents per pound. As of September 30, the Cotlook A Index fell by 80 points to 76.90 cents. ICE cotton stocks saw an increase of 2,417 bales on September 30, bringing the certified stocks total to 17,891 bales. The USDA’s Adjusted World Price (AWP) went down by 41 points last week, now standing at 54.38 cents per pound and effective through Thursday.
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Oct 25 Cotton is currently at 63.32, showing a rise of 27 points.
Dec 25 Cotton is listed at 65.29, marking a decline of 48 points.
Mar 26 Cotton is priced at 67.23, down by 34 points.
As of the date of publication, Austin Schroeder holds no positions (directly or indirectly) in any of the securities discussed in this article. All data is provided for informational purposes only. This piece was originally published on Barchart.com.
