Cotton Futures Plummet, Government Shutdown Impacts Market

Cotton Futures Plummet: A Week of Decline and UncertaintyCotton futures experienced a significant drop across most contracts, with December futures falling by one hundred ninety-two points over the week. This decline coincided with a dip in crude oil futures and a decrease in the US dollar index. An online auction sold two thousand two hundred sixty-one bales of cotton at an average price of sixty-three point eight-one cents per pound. The Cotlook A Index remained unchanged, while certified cotton stocks held steady. However, the ongoing government shutdown has hindered market transparency by preventing updates to the Adjusted World Price. Specific contract performances showed December twenty-five cotton closing at sixty-three point six-two cents, March twenty-six cotton finishing at sixty-five point one-four cents, and May twenty-six cotton closing down sixty-three points at sixty-six point three-five cents. These market movements reflect a challenging period for cotton, influenced by broader economic indicators and the lack of crucial government data.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.