International Cotton Markets Overview:

28-Nov-2024 08:11 AM

International Cotton Markets Overview:
The international cotton markets are showing some positive movements as ICE cotton futures closed 10 to 12 points higher on Wednesday. Despite mixed external markets, where crude oil saw a slight decline of 5 cents per barrel, the US dollar index provided some support, falling 928 points.
Regarding cotton sales, a reported 4,242 bales were sold online on November 26, with an average price of 68.68 cents per pound. However, ICE cotton stocks remained unchanged, holding steady at 13,274 certified bales.
The Cotlook A Index, which tracks cotton prices globally, rose by 100 points to 82.10 cents per pound on November 26. On the other hand, the USDA Adjusted World Price (AWP) saw a significant reduction last Thursday, falling 229 points to 55.91 cents per pound. This AWP figure will be updated again on Friday due to the holiday.
Overall, while cotton prices show some resilience, the mixed performance of external markets and changes in the USDA price adjustments could influence the market outlook in the coming days.