Cotton futures settled 9 to 100 points higher, led again by old crop July (where bulls are now on a 3 day winning streak). A weaker dollar was helpful, with futures down 161 points at 104.060. The EU central bank cut interest rates 0.25%
Census cotton exports totaled 1.21 million bales in April, down from 1.634 million in March and off 21.6% from April 2024. China and Pakistan were the largest shippers for the month.
This morning’s weekly Export Sales numbers from FAS showed 138,700 RB were sold for shipment in the old crop slot last week. China was the biggest buyer. Net sales for 2024/25 shipments were 54,100 RB for the week, with Mexico and Vietnam the main destinations.
ICE certified cotton stocks were up 1,156 bales on June 5 at 129,146 bales. There were no decerts, with 3,531 bales awaiting review. The Cotlook A Index was up 30 points on June 5 at 82.75 cents/lb. The USDA Average World Price (AWP) is 58.13 through next Thursday, dropping 6.24 cents/lb from the previous week.
Jul 24 Cotton closed at 75.44, up 100 points,
Dec 24 Cotton closed at 73.6, up 9 points,
Mar 25 Cotton closed at 75.42, up 13 points
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