Cotton Futures Steady as Market Adjustments Continue

Cotton futures are relatively flat on Friday, with nearby contracts fluctuating between a 6-point increase and a 2-point decrease. Meanwhile, crude oil prices have decreased by 93 cents per barrel. The US dollar index has fallen $0.315, landing at 100.175.

USDA Export Sales Report Highlights

The USDA’s Export Sales report revealed current cotton export commitments at 11.033 million running bales, representing a 5% decrease from last year. This figure accounts for 108% of the USDA’s export forecast for the 2024/25 marketing year, maintaining the average pace.

Market Activity and Auction Results

The online auction conducted by The Seam on Thursday recorded sales of 797 bales at an average price of 55.13 cents per pound. On Wednesday, the Cotlook A Index fell by 5 points, closing at 78.95. Additionally, as of May 8, ICE cotton stocks decreased by 416 bales, influenced by a mix of new certifications and derecertifications, with certified stocks totaling 16,721 bales. The USDA’s Adjusted World Price (AWP) dipped by 13 points on Thursday to 54.81 cents per pound.

Current Cotton Futures Prices

Jul 25 Cotton: 66.75, up 6 points
Oct 25 Cotton: 68.90, down 1 point
Dec 25 Cotton: 68.73, down 2 points

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

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