Cotton Futures Rise Amid Mixed Market Pressures

Cotton futures have gained between 18 and 31 points on Thursday, despite facing some external pressures. Crude oil futures have dropped $0.97 per barrel, contributing to market dynamics, while the US dollar index has increased by $0.113 today.

Export Sales Data Indicates Strong Demand

According to the USDA’s Export Sales report, a total of 271,814 running bales (RB) of upland cotton were sold in the week ending March 6, marking a three-week high. This figure represents more than three times the amount sold during the same week last year. Notably, Vietnam was the largest buyer, purchasing 112,700 RB, followed closely by Turkey, which bought 89,300 RB. Additionally, shipments reached a marketing year (MY) high of 403,461 RB for that week. Vietnam topped the recipient list with 126,700 RB, while Pakistan received 101,600 RB.

Market Auction and Price Updates

In the latest online auction by The Seam held Wednesday, 6,631 bales were sold at an average price of 61.51 cents per pound. The Cotlook A Index decreased by 10 points on March 12, landing at 77.85 cents per pound. ICE cotton stocks remained stable, with certified stocks currently at 14,488 bales. Last Thursday afternoon, the USDA revised the Adjusted World Price (AWP) downward by 201 points to 51.88 cents per pound, with an update expected later today.

Current Cotton Futures Prices

May 25 Cotton is currently priced at 66.67 cents, down 31 points.

Jul 25 Cotton is reported at 67.85 cents, also down 31 points.

Oct 25 Cotton stands at 69.74 cents, reflecting a decline of 18 points.

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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