Cotton futures increased on Thursday, with contracts rising between 2 to 60 points. The October contract closed at 79.51 cents, up 60 points, while December and March contracts closed at 83.31 and 86.06 cents, respectively. In the commodities market, crude oil gained $2.60 per barrel, and the US dollar index rose by $0.163.
The USDA reported a marketing year high for cotton sales, totaling 230,517 RB in the week ending September 17, with Mexico purchasing 69,800 RB and Vietnam 51,200 RB. Shipments reached 164,704 RB, marking a 20.03% increase compared to the same week last year. Vietnam was the top destination with 49,000 RB shipped, followed by India with 32,100 RB. Additionally, ICE certified cotton stocks remained unchanged at 29,556 bales as of September 23.
The US is currently extending its trade truce with China for an additional two months, though details from ongoing US/China meetings have yet to emerge.
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