Cotton futures experienced gains on Thursday, with nearby contracts rising by 125 to 137 points. The dollar index saw a rise of 310 points to 101.30, while crude oil futures increased by $1.35 per barrel, providing supportive conditions for the synthetic market.
Export Sales data for the week ending August 22 reported 135,187 running bales (RB) in upland cotton sales, the highest so far this marketing year. Sales were primarily to Pakistan (74,500 RB) and India (17,800 RB), with new crop sales totaling 704 RB, all destined for Japan. Shipments amounted to 144,248 RB, down 14.56% from the previous week, with China being the top destination at 29,200 RB.
As of August 28, cotton futures prices closed as follows: December 2024 cotton at 69.92 (up 137 points), March 2025 cotton at 71.52 (up 132 points), and May 2025 cotton at 72.70 (up 125 points). The USDA updated the Average World Price (AWP) to 56.98 cents per pound, an increase of 108 points from the prior week.
