International Cotton Market

11-Dec-2024 09:02 AM

International Cotton Market
The international cotton market saw a decline in ICE cotton futures during Tuesday's session as the USDA reported increased stock levels. Here's a summary of key developments:
Futures Market
ICE Cotton Futures: All contracts dropped by 40 to 76 points.
External Factors: The US dollar index climbed 275 points, and crude oil prices rose by $0.7 per barrel.
USDA Updates
Production Per Acre: Increased by 3 lbs to 792 lbs, boosting total production by 70,000 bales to 14.255 million bales.
2024/25 Carryout: Raised by 100,000 bales to 4.4 million bales.
Ginning Data:
2.825 million bales were ginned in the last two weeks of November.
Total ginned cotton as of December 1 reached 9.678 million bales, up 15% year-over-year.
Sales and Pricing
Online Sales (SIM): 5,851 bales sold on Dec. 9, averaging 66.42 cents/lb.
ICE Certified Stocks: 1,236 bales on Monday; total certified stocks stood at 17,932 bales.
Cotlook A Index: Fell by 100 points to 80.35 cents/lb on Dec. 6.
USDA Adjusted World Price (AWP): Increased by 21 points to 57.74 cents/lb last week.
This mix of higher production, increased carryout, and fluctuating prices reflects the ongoing complexities in the cotton market influenced by both domestic and global factors.