International Cotton Markets

19-Dec-2024 08:12 AM

International Cotton Markets
The cotton market showed downward pressure on Wednesday due to external factors, including a stronger U.S. dollar and slight declines in crude oil prices. Here’s a summary of the latest developments in the international cotton markets:
ICE Cotton Futures:
Ended the session down by 30 to 61 points.
Influenced by broader market trends, such as a $1.287 rise in the U.S. Dollar Index and crude oil prices slipping by $0.11 per barrel.
The Seam Sales:
Reported online sales of 4,395 bales on December 17.
Average price: 64.93 cents per pound.
ICE Cotton Stocks:
Remained unchanged at 20,113 bales as of Tuesday.
Cotlook A Index:
Declined by 25 points to 79.25 cents per pound on December 17.
USDA Adjusted World Price (AWP):
Reduced by 152 points to 56.22 cents per pound last Thursday.
A new update is expected this Thursday.
The cotton market remains sensitive to global economic indicators, and traders are likely keeping an eye on the updated AWP and any shifts in the macroeconomic environment.