International Cotton Market

28-Feb-2025 08:03 AM

International Cotton Market 
On Thursday, cotton prices failed to sustain early gains as the dollar index exerted pressure. Futures closed with a decline of 17 to 27 points. External markets showed mixed signals. Crude oil prices rose by $1.51 per barrel, while the U.S. dollar index increased by $0.881.
According to the export sales report released on Thursday morning, a total of 166,875 running bales (RB) of cotton were booked during the week ending February 20, marking a seven-week low. This was a 46.59% drop from the previous week but remained significantly higher than the same period last year. Vietnam was the largest buyer, purchasing 43,000 RB, while China bought 31,100 RB. Export shipments totaled 267,538 RB, lower than the previous week's peak but still the second-largest figure of the year. Vietnam received 80,300 RB, while Pakistan imported 52,700 RB.  
At the USDA Outlook Forum, projections for the 2025 cotton crop estimated a total planted area of 10 million acres, lower than last year. The estimated ending stocks were projected at 4.8 million bales.  
On February 26, The Seam recorded online sales of 122 bales at an average price of 56.56 cents per pound. The Cotlook A Index dropped by 50 points to 78.00 cents per pound on February 26. Certified stocks at ICE increased by 10,921 bales on Wednesday, reaching a total of 12,653 bales. The USDA adjusted the World Price (AWP) downward by 78 points to 53.89 cents per pound on Thursday afternoon.