Cotton benchmark prices either increased or were stable over the past month
Jon Devine, senior economist at Cotton Inc states in his latest Monthly Newsletter that prices for the May NY futures contract increased, climbing from levels near 75 cents/lb in mid-March to those near 79 cents/lb recently.
The July contract, which now represents more open interest, also rose and has maintained values slightly higher than those for the May contract. The A Index climbed from values near 82 cents/lb near the middle of last month to those near 88 cents/lb most recently.
Chinese cotton prices represented by the CC Index (3128B) were comparatively stable in both international and domestic terms, holding to values near 105 cents/lb. Indian spot prices (Shankar-6 quality) increased in both international (from 77 to 85 cents/lb) and domestic terms. Pakistani spot prices were steady at values close to 75 cents/lb.