Cotton futures experienced a slight dip on Wednesday, with a decrease of 2 to 5 points in the front months. This comes after a period of early strength in the market. On the other hand, crude oil futures saw an increase of 50 cents per barrel, reaching $61.65. Concurrently, the US dollar index decreased by $0.049, settling at $98.860.
The online auction held by The Seam on January 13 reported sales of 60.08 cents/lb on 14,042 bales. Additionally, the Cotlook A Index showed an increase of 55 points on the same date, reaching 75 cents. ICE certified cotton stocks remained unchanged on Tuesday, with the certified stocks level standing at 11,029 bales. The Adjusted World Price was updated to 50.97 cents/lb on Thursday afternoon, marking a 21-point increase from the previous week.
In terms of specific cotton futures, Mar 26 Cotton is currently at 64.85, down 3 points, while May 26 Cotton stands at 66.38, also down by 3 points. Jul 26 Cotton is at 67.84, experiencing a 2-point decrease.
It is important to note that on the date of publication, Austin Schroeder did not hold any positions (either directly or indirectly) in the securities mentioned in this article. The information and data provided in this article are intended solely for informational purposes. For more details, the original article can be found on Barchart.com.
