ICE Cotton Market Overview

06-Dec-2024 08:19 AM

ICE Cotton Market Overview
ICE Cotton Futures Performance
ICE cotton futures declined by 8 to 21 points on Thursday, reflecting a mixed performance in external markets:
US Dollar Index: Fell 565 points.
Crude Oil Prices: Dropped by 15 cents per barrel.
Weekly Export Sales Report (11/28)
For the week ending November 28, 2024/25 cotton sales totaled 170,663 running bales (RB):
This marked a 3-week low, yet sales were 46.58% higher than the same period last year.
Top Buyers:
Vietnam: 84,300 RB.
Pakistan: 36,700 RB.
Shipment Data:
Total shipments for the week were 157,546 RB, making it the third-highest volume of the current marketing year (MY).
Week-over-week increase: 20.89%.
Year-over-year increase: 13.22%.
Key Destinations:
Pakistan: 31,500 RB.
China: 24,800 RB.
Cumulative Shipments: Total shipments this MY are 12.65% behind last year, at 2.145 million RB.
October Export Data
According to Census Bureau figures, cotton shipments (excluding linters) for October totaled 573,156 bales:
14.06% higher than September.
45.36% higher than October 2023.
Highest October figure in the last four years.
Additional Market Updates
The Seam Sales:
7,289 bales sold online on December 4 at an average price of 67.62 cents/lb.
ICE Cotton Stocks: Unchanged at 13,274 bales on Wednesday.
Cotlook A Index: Fell by 15 points to 81.60 cents/lb on December 4.
USDA Adjusted World Price (AWP): Increased by 21 points to 57.74 cents/lb this week.