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Cotton futures posted strength on Thursday, as contracts closed with front month gains of 100 to 139 points. The outside markets were supportive on the day. Crude oil futures were up 29 cents/barrel, as the US dollar index $0.292 lower on the day.
USDA Export Sales data totaled 84,405 RB for 2024/25 in the week ending on March 20, a MY low. Pakistan was the buyer of 35,300 RB, with 18,900 MT sold to Vietnam. China saw net reduction of 27,000 RB. New crop sales were the lowest in 4 weeks at 41,624 RB. Shipments were tallied at 396,407 RB, the second highest export total for the marketing year. Of that, 114,900 RB was headed to Vietnam, with 69,400 RB to Turkey and 68,100 RB to Pakistan.
The Seam showed 9,044 bales in online sales on March 26 at an average price of 67.16 cents/lb. The Cotlook A Index was back down 35 points on Wednesday at 77.40 cents/lb. ICE cotton stocks were unchanged on 3/26, with the current level of certified stocks at 14,488 bales. USDA’s Adjusted World Price (AWP) was back down 97 points in this afternoon’s report to 53.66 cents/lb.
May 25 Cotton closed at 67.07, up 139 points,
Jul 25 Cotton closed at 68.34, up 112 points,
Dec 25 Cotton closed at 70.29, up 100 points
