International Cotton Market Update

28-Dec-2024 08:15 AM

International Cotton Market Update
In Friday's session, ICE cotton futures closed higher by 4 to 14 points, supported by mild gains in external markets. The U.S. dollar index fell by 83 points, while crude oil prices rose by $0.78 per barrel.
For the week ending 12/19, U.S. cotton export sales for the 2024/25 season totaled 279,056 round bales (RB), the highest in four weeks and a 43.18% increase from the previous week. Turkish importers made significant purchases, buying 108,700 RB, followed by Vietnam with 104,500 RB. For the 2025/26 season, 29,480 RB were sold. Shipments reached a three-week high of 140,484 RB, 9.26% higher than the previous week. China was the top destination, receiving 33,200 RB, followed by Pakistan with 31,900 RB.
On December 26, the CME reported the sale of 3,126 bales at an average price of 59.37 cents per pound. ICE cotton stocks remained unchanged at 20,113 certified bales. The Cotlook A Index was up 130 points on 12/24, at 79.60 cents per pound. The USDA adjusted the World Price (AWP) down by 54 points to 54.55 cents per pound, valid until next Thursday.