International Cotton Market Update

23-Jan-2025 08:28 AM

International Cotton Market Update
On Wednesday, ICE cotton futures saw weak trading, with nearby contracts dropping by 44 to 52 points. External markets added pressure as the U.S. Dollar Index rose by 174 points, while crude oil declined by 43 cents per barrel.
Late Tuesday, former President Trump announced a potential 10% tariff on China starting February 1, following previous threats against Mexico and Canada.
The Seam reported online sales of 17,636 bales at an average price of 62.28 cents/pound on January 21. On Monday, ICE certified cotton stocks remained unchanged at 218 bales.
The Cotlook A Index held steady at 78.05 cents/pound on January 21. Meanwhile, the USDA Adjusted World Price (AWP) was down 68 points from last week, at 53.98 cents/pound as of Thursday afternoon.