Cotton futures are down 130 points in July, with other contracts off 20 to 25 points, reflecting broad weakness in the cotton market. Pressure is also coming from a $2.94/bbl drop in crude oil to $76.62 and a firmer U.S. dollar index at 100.775, both of which can weigh on commodity prices. The Seam reported 3 bales sold on 6/19, but the article provides no offsetting bullish catalyst.
Cotton futures are down 130 points in July, with other contracts off 20 to 25 points, reflecting broad weakness in the cotton market. Pressure is also coming from a $2.94/bbl drop in crude oil to $76.62 and a firmer U.S. dollar index at 100.775, both of which can weigh on commodity prices. The Seam reported 3 bales sold on 6/19, but the article provides no offsetting bullish catalyst.
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Request DemoOverall Sentiment
moderately negative
Sentiment Score
-0.35
