Cotton futures are focused on the harvest delays from Hurricane Helene, as contracts are up 57 to 61 points at midday, ignoring Export Sales data. The dollar index was back down 269 points, with crude oil futures down another $211/barrel to provide some outside pressure.
Export Sales data showed cotton bookings of 87,784 RB in the week ending on 9/19, a MY low. Turkey was the largest buyer of 31,500 RB, with 31,100 RB sold to Pakistan. Shipments also totaled a MY low of just 79,504 RB. Pakistan was the top destination of 18,100 RB, as 12,200 RB was headed to India, with 9,100 RB to China.
Hurricane Helene is nearing a category 2 disaster and headed towards the Florida Gulf Coast. Harvest will likely be stopped in areas that run from Alabama, Georgia, Florida, up through the western parts of the Carolinas, and into TN/KY.
China set their import tariff quota at 894,000 MT for 2025, even with previous years.
The Seam reported 1,895 online cash cotton bale sales on Wednesday, averaging 70.26 cents/lb. ICE cotton stocks were unchanged on September 25, leaving 265 bales of certified stocks. The Cotlook A Index was up 75 points on September 25 at 85.80 cents/lb. The USDA Adjusted World Price (AWP) was raised by 283 points last Thursday to 58.83 cents/lb. It will be updated later today.
Dec 24 Cotton is at 73.8, up 60 points,
Mar 25 Cotton is at 75.61, up 61 points,
May 25 Cotton is at 76.69, up 57 points
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