International Cotton Market Update

17-Jan-2025 08:09 AM

International Cotton Market Update
On Thursday, ICE cotton futures experienced a decline, with nearby contracts falling by 104 to 107 points. Mixed external factors influenced the market, including a 151-point drop in the US Dollar Index and crude oil prices falling $1.33/barrel, dipping below the $80 mark.
Export sales data showed that upland cotton sales for the week ending January 9 reached 316,248 RB, the highest in seven weeks. Turkey was the largest buyer with 102,100 RB, followed by Vietnam with 79,400 RB. Total shipments amounted to 224,825 RB, the highest since May, with Vietnam (84,000 RB) and Pakistan (33,800 RB) as major destinations.
On January 15, Seam reported online sales of 9,475 bales at an average price of 61.80 cents/pound.
ICE cotton stocks remained unchanged on Wednesday, with certified stocks at 218 bales.
The Cotlook A Index fell by 15 points to 77.85 cents/pound on January 15. The USDA Adjusted World Price (AWP) dropped by 68 points from the previous week to 53.98 cents/pound as of Thursday afternoon.