International Cotton Market Update

25-Jan-2025 08:18 AM

International Cotton Market Update
In Friday's session, ICE cotton futures closed 13 to 14 points higher, with the March contract gaining just 1 point for the week. Crude oil futures were down by 2 cents per barrel during the day, while the U.S. Dollar Index fell by 603 points.
According to Commitment of Traders data, as of January 21, spec funds added 5,353 contracts to their net short positions in cotton, bringing the total to 48,439 contracts.
The weekly export sales report for the week ending January 26 showed cotton bookings of 348,927 running bales (RB), marking the highest level of the marketing year and a 10.33% increase from the previous week. Vietnam was the largest buyer with 94,500 RB, followed by Pakistan with 75,400 RB, and Turkey with 66,800 RB.
Total shipments for the week reached 222,603 RB, down 0.99% from the previous week. Pakistan received 60,000 RB, and Vietnam 47,800 RB.
Additional Highlights:
The Seam reported online sales of 9,788 bales on January 23, with an average price of 58.52 cents per pound.
ICE cotton stocks remained unchanged at 218 bales as of Thursday.
The Cotlook A Index dropped 50 points to 77.60 cents per pound on January 23.
USDA's Adjusted World Price (AWP) fell 27 points from the previous week to 53.71 cents per pound as of Thursday.