International Cotton Market

13-May-2025 08:30 AM

International Cotton Market
ICE cotton futures closed with gains of 2 to 18 points after falling from early session highs. Crude oil prices rose by $1.10 per barrel, and the U.S. dollar index increased by $1.462 to $101.630.
According to crop progress data, 28% of cotton had been planted in the U.S. as of May 11, trailing the average pace of 31%.
Progress was made in trade discussions between U.S. and Chinese representatives, as both countries agreed to reduce tariffs by 115% for 90 days. The U.S. lowered tariffs on Chinese textiles to 30%, while China reduced tariffs on U.S. goods to 10%.
According to the USDA’s annual cotton ginning report, 14.075 million round bales (RB) had been ginned, and the total cotton production for 2024 was 14.383 million bales (including Pima). The World Agricultural Outlook Board’s old crop balance sheet showed exports increased by 200,000 bales to 4.8 million bales, with a reduction in carryout. New crop stocks were reported at 5.2 million bales.
In the "The Seam" online auction on Friday, 1,255 bales sold at an average price of 71.50 cents/pound. The Cotlook A Index fell by 70 points to 78.25. As of May 9, ICE cotton stocks had risen by 5,529 bales, bringing certified stock levels to 22,250 bales. The USDA’s Adjusted World Price (AWP) dropped by 13 points to 54.81 cents/pound.