Cotton futures rose slightly to around 61.8 cents per pound, a near one-week high, as expectations of a potential Federal Reserve rate cut bolstered demand prospects. In the meantime, the latest US weekly sales report published on November 21 suggested increasing demand. US upland cotton export sales surged to 199,000 running bales for the week ending October 2, more than doubling the previous figure and exceeding the four-week average. On the supply side, the USDA’s crop progress report showed the US cotton harvest at 79% complete as of November 23, up from 71% the previous week. This remains below last year’s 83%, but close to the 5-year average of 80%. Meanwhile, the USDA’s November 2025 WASDE raised the US production forecast by 900,000 bales to 14.1 million, citing higher yields across most states. Global cotton production was also revised up by 2.4 million bales, while global consumption was increased by 50,000 bales.
