Cotton prices have risen by 89 to 106 points across most contracts, with December 2024 cotton reaching 68.3 cents per pound and March 2025 cotton at 69.65 cents. The US dollar index decreased by 82 points, while crude oil prices increased by 71 cents per barrel.
The USDA’s Export Sales report for the week ending August 1 indicated net reductions of 949,600 running bales for the 2024/25 season. This was primarily due to cancellations from China (603,200 RB), Pakistan (372,200 RB), and Vietnam (111,800 RB). Currently, there are 4.102 million RB in sales for 2024/25 on record, representing 38% of the USDA’s total estimate, lower than the 48% average pace.
As of August 7, ICE cotton stocks remained unchanged at 18,721 bales. The Cotlook A Index increased by 50 points to 79.20 cents per pound, while the USDA Average World Price rose by 130 points to 55.24 cents per pound, effective through next Thursday.
