International Cotton Market Update

18-Jan-2025 08:19 AM

International Cotton Market Update
ICE cotton futures closed on Friday with gains of 54 to 87 points. March cotton ended the week up by 59 points. External markets put pressure on cotton prices, as the US Dollar Index rose by 438 points, while crude oil prices fell by $0.64/barrel. Markets and government offices will be closed on Monday due to Martin Luther King Jr. Day, with normal operations resuming on Tuesday.
According to the CFTC Commitment of Traders data, managed money speculative traders increased their net short position by 3,744 contracts through January 14, bringing their total net short position to 43,086 contracts.
Export sales data showed that for the week ending January 9, a total of 316,248 RB of upland cotton was sold. Total sales commitments, including shipments, are now at 8.068 million RB, or 78% of the USDA's export forecast for 2024/25, trailing behind the average sales pace of 82%.
Seam reported an online sale of 4,510 bales on January 16 at an average price of 57.66 cents/pound.
ICE cotton stocks remained unchanged on Wednesday, with certified stocks at 218 bales.
The Cotlook A Index rose by 30 points to 78.15 cents/pound on January 16. The USDA Adjusted World Price (AWP) dropped by 68 points from the previous week to 53.98 cents/pound on Thursday afternoon.