International cotton market update:

31-Jan-2025 08:15 AM

International cotton market update:
On Thursday, ICE cotton futures dropped by 22 to 39 points in the front months. The external markets were influenced by mixed factors, with crude oil futures rising by 61 cents per barrel, and the U.S. dollar index gaining 161 points by the end of the day.
Weekly export sales data for the week ending January 23 showed total cotton sales of 280,010 RB, down 19.75% from the previous week and 19.85% from the same week last year. Vietnam was the largest buyer with 86,000 RB, followed by Turkey with 76,300 RB. Shipments totaled 153,512 RB, a 31.04% decline from the previous week. Pakistan received 38,700 RB, and Vietnam received 30,500 RB.
The Seam reported an average price of 59.48 cents per pound for 4,646 bales sold online on January 29. ICE cotton stocks remained unchanged at 218 bales on Wednesday. The Cotlook A Index dropped 25 points to 78.25 cents per pound on January 29. The USDA’s Adjusted World Price (AWP) increased by 31 points to 54.02 cents per pound compared to the previous week.