Cotton Rallying on Monday Morning

Cotton prices are trading 69 to 333 points higher on Monday morning. Futures continued to decline on Friday, down 18 to 266 points. Some 2025 contracts were up 14 to 20 points Outside factors were piling on the pressure, with crude oil down 64 cents, as the US dollar index was up 253 points. 

Today is First Notice Day (FND) for deliveries against July contract futures.

Export Sales data from Friday morning showed an uptick in old crop cotton bookings at 189,016 RB for the week that ended on June 13, a 3-week high. China purchased 82,200 RB, with Vietnam in for 38,600 RB. New crop sales slipped from last week’s MY high to 111,799 RB. Guatemala was the lead buyer of 24,600 RB, with Turkey purchasing 15,400 RB. Export shipments were a four week high at 197,905 RB, and a 6.03% increase from a week ago. Unshipped sales still sit at a large 3.25 million RB with just 7 weeks left in the marketing year.

The ICE certified cotton stocks were up 469 bales on June 20 at 136,656 bales. There were 0 decerts, and 5,334 bales awaiting review. The Cotlook A Index was unchanged on June 20 at 82.70 cents/lb. The USDA Average World Price (AWP) was down another 67 points to 56.65 cents per pound on Thursday. It is good through next week. 

Jul 24 Cotton  closed at 68.19, down 266 points, currently up 333 points

Dec 24 Cotton  closed at 72.21, down 41 points, currently up 108 points

Mar 25 Cotton  closed at 73.60, down 36 points, currently up 106 points

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