Cotton futures experienced a volatile trading session on Tuesday, with contracts closing down between 6 to 22 points. Despite the fluctuations in cotton prices, external market conditions provided some support. The US dollar index fell by 98 points, while crude oil prices rose by $1.87 per barrel, creating a mixed backdrop for cotton traders.
On December 2, The Seam reported a total of 2,000 bales sold online, with an average price of 67.66 cents per pound. Meanwhile, ICE cotton stocks remained unchanged on Monday, holding steady at 13,274 bales of certified stocks. The Cotlook A Index saw a modest increase of 25 points on December 2, reaching 82.25 cents per pound. Additionally, the USDA Adjusted World Price (AWP) was raised by 162 points last week, now standing at 57.53 cents per pound.
In terms of specific futures contracts, Mar 25 Cotton closed at 71.2, reflecting a decrease of 29 points. Similarly, May 25 Cotton ended the day at 72.55, down 10 points. Lastly, Jul 25 Cotton also closed at 73.47, marking a decline of 10 points.
On the date of publication,
Austin Schroeder
did not hold (either directly or indirectly) any positions in the securities mentioned in this article. All information and data provided are for informational purposes only. For more details, please refer to the Barchart Disclosure Policy
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