Risk-off mood drags Cotton 2.02% lower

Published: March 19 2023, 09:01 GMT+0

Risk-off mood drags Cotton 2.02% lower

A quick look at Friday: Cotton ended Friday at $77.56 per pound following from closing Thursday at $79.16. Overall, this represents a loss of $1.6 or 2.02%.

The Cotton future's value drop coincided with the fact that Coffee slumps 1.89% Friday and closed at $180.05. Sugar is down to $20.67, losing 9 cents, after ending the previous session around $20.76.

Positive performances can be seen by looking at other Softs markets as Cocoa added 1.86% and closed around $2,688 Friday.

The commodity has been trending lower for about 2 months. Over the past 10 months, the Cotton future has retreated 48.89% from a noteworthy peak of $154.89.