Cotton Prices

Cotton prices averaged USD 71.72 cents per pound in October, up 1.3% from September. On 31 October, the commodity traded at USD 69.57 cents per pound, down 5.4% from 30 September.

Cotton prices extended September’s gains in October. The USDA’s lower projections for 2024 following Hurricane Helene, coupled with higher crude oil prices and a weaker U.S. dollar early in the month, largely drove the price rise. That said, a stronger greenback and declining oil prices halted the increase later in the month.