– Reporting Period 06 – 26 March 2024 –
After the upward trend of the previous reporting period, the market reversed with the change of the next trading month before the index price was able to break through the USD 1 mark. As the trading month March 24 ended, the May 24 futures briefly jumped upwards before falling and finally swinging back and forth at around 92 ct/lb. The unusually wide gap to the trading month of December 24 mentioned in the last market report has thus narrowed to a more normal level.
The market has recently offered only little shippable cotton. The new crop in the southern hemisphere in Brazil and Australia was not yet ready. In turn, demand on the market remained relatively weak. Uncertainties in the textile business shaped demand and procurement.