The movement of cotton price decreased 13.65 USd/Lbs or 16.85% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity.
The USDA's latest crop progress report indicated that 46% of the cotton crop was rated good-to-excellent, a slight improvement from 45% the previous week.
US cotton futures dropped to 66 cents per pound and a negative sentiment in the grain markets added further pressure on cotton prices.
Source from Trading Economics
TW
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