International Cotton Markets

25-Dec-2024 08:44 AM

International Cotton Markets
The international cotton market showed mixed movements on Tuesday, with ICE cotton futures declining by 14 to 64 points after gaining on Monday. Meanwhile, external influences, such as the US Dollar Index and crude oil prices, exhibited positive trends, with the Dollar Index rising by 193 points and crude oil increasing by $0.93 per barrel.
Key highlights from the cotton market:
Holiday Closure: The ICE cotton market will remain closed on Wednesday, December 25, for the Christmas holiday and will resume trading on Thursday, December 26, at 6:30 a.m. CDT.
Online Sales: The Seam reported sales of 16,232 bales on December 23 at an average price of 61.50 cents per pound.
Certified Stocks: ICE-certified cotton stocks remained steady on Monday, totaling 20,113 bales.
Cotlook A Index: This global price benchmark for cotton increased by 15 points to 78.30 cents per pound on December 23.
USDA Adjusted World Price (AWP): The USDA reported a significant drop of 113 points last week, setting the AWP at 55.09 cents per pound, valid through Thursday.
These movements reflect the interplay between domestic and international factors, influencing pricing and trading activity in the cotton sector.