Cotton Futures Dip, USDA Sales Show Mixed Signals

Cotton futures experienced a slight decline on Monday, with March, May, and July contracts closing lower. The US dollar index also fell, while crude oil futures climbed. The USDA Export Sales report showed a three-week high in cotton sales but a low in shipments, raising concerns about weaker demand and softer prices in the new year. The December nineteenth online auction from The Seam sold bales at an average of fifty-nine cents thirty-eight per pound, with the Cotlook A Index holding steady. ICE certified stocks remained flat, and the Adjusted World Price dropped forty points. The cotton market presents mixed signals, with steady indexes but downward pressure on futures and world prices, leaving growers and buyers uncertain about the future.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.