Commodities
Cotton Prices Plummet Amid Shift in Global Market Values
Cotton prices are experiencing a downturn across most contracts on Tuesday morning, following a previous increase. The decrease ranges from 97 to 136 points, according to recent data.
The US dollar index has risen by $0.191, while crude oil is down $2.08. This shift in values may have contributed to the decline in cotton prices.
Weekly Crop Progress data revealed that 81% of US cotton is currently setting bolls, with 20% having opened. Condition ratings are at 37%, good/excellent, a decrease of 1 percentage point from last week.