Cotton Drops by the End of Trading on Wednesday

Cotton Market Update

After starting the session with gains, cotton futures have reversed course by midday, now showing only modest increases of 3 to 5 points. Meanwhile, crude oil prices have slipped by 76 cents to $56.40 per barrel, and the US dollar index has climbed by $0.173 to reach 98.335.

During Tuesday's online auction on The Seam, 41,576 bales were sold at an average price of 61.13 cents per pound. On January 6, the Cotlook A Index rose by 65 points to 74.70 cents. ICE certified cotton inventories remained unchanged at 11,510 bales as of January 6. Last week, the Adjusted World Price was revised upward by 74 points to 50.76 cents per pound.

Recent Cotton Futures Closing Prices

• March 26 Cotton settled at 64.85, a decrease of 21 points
• May 26 Cotton ended at 66.27, down 16 points
• July 26 Cotton finished at 67.61, down 13 points