Cotton Heads Home Lower on Friday, with Outside Pressure
Cotton futures closed with contracts down 149 to 156 points across the front months on Friday. The dollar index was back up 71 points, with crude oil futures back down $1.04/barrel to add pressure.
Export Sales data from this morning showed a high in the first month of the marketing year at 207,512 RB in 2024/25 cotton business, with 8,367 RB for 2025/26. Pakistan was the lead buyer of the current crop at 71,400 RB, with 41,800 RB to India. Export shipments were at 164,147 RB, buck up from the previous week, with 36,300 RB to China and 30,600 RB to Pakistan.
The large money manager spec funds in cotton futures and options trimmed their net short by 2,643 contracts to 42,665 contracts by Tuesday September 3.
The Seam reported online cash sales of just 1,475 bales at an average price of 65.41 cents on Thursday. ICE cotton stocks were unchanged on September 5, leaving 265 bales of cert stocks. The Cotlook A Index was back down 65 points on September 5 at 81.05 cents/lb. The USDA Adjusted World Price (AWP) was raised by 29 points from the week prior on Thursday to 57.27 cents/lb.
Dec 24 Cotton closed at 67.88, down 156 points,
Mar 25 Cotton closed at 69.69, down 156 points,
May 25 Cotton closed at 71.02, down 149 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 is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.