Cotton futures closed lower on Thursday, with December 25 contracts falling 40 points to 62.90 cents amid broader market weakness. This occurred as delayed export sales data revealed 155,414 running bales sold and 117,595 shipped, while the Cotlook A Index declined 40 points to 75.40 cents. Additionally, ICE certified cotton stocks rose by 1,000 bales, and the Adjusted World Price was released at 51.83 cents/lb for the first time since a recent shutdown.
Cotton futures experienced broad weakness on Thursday, with contracts for Dec 25, Mar 26, and May 26 closing down 40, 28, and 30 points respectively. This bearish sentiment was reinforced by the Cotlook A Index, which declined 40 points to 75.40 cents on November 12, signaling a broader negative trend in global cotton pricing. Contributing to this downward pressure, ICE certified cotton stocks increased by 1,000 bales on November 11, reaching 18,239 bales, indicating a potential increase in available supply. The Wednesday online auction from The Seam also reflected spot market softness, with 2,310 bales sold at an average price of 60.62 cents/lb, below futures prices. Although delayed export sales data showed 155,414 running bales sold and 117,595 shipped for the week of September 25, these figures did not offset the prevailing negative price action. The Adjusted World Price (AWP) was released at 51.83 cents/lb for the first time since a shutdown, providing a new benchmark amidst the current market dynamics.
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moderately negative
Sentiment Score
-0.45
Ticker Sentiment
