International Cotton Markets

13-Dec-2024 08:10 AM

International Cotton Markets
The international cotton markets experienced mixed movements as ICE cotton futures closed slightly lower to marginally higher on Thursday. The fluctuation was influenced by external market conditions, including a 310-pip increase in the US dollar index and a 27-cent/barrel drop in crude oil prices.
Key Highlights:
Export Sales Data (Week Ending 12/5):
Total sales reached 152,989 RB, marking a 9-week low and a 10.36% decrease from the previous week.
Vietnam emerged as the top buyer with 75,800 RB, followed by Pakistan with 50,700 RB.
Shipments fell by 12.78% to 137,408 RB. Pakistan was the largest recipient (29,200 RB), followed by China (27,800 RB).
Online Sales and Stocks:
The Seam reported 6,230 bales sold online on Dec. 11, with an average price of 63.45 cents/lb.
ICE certified stocks dropped by 882 bales to 20,113 bales on Wednesday.
Market Indices:
The Cotlook A Index decreased by 50 points to 79.60 cents/lb as of Dec. 11.
USDA’s Adjusted World Price (AWP) fell by 152 points to 56.22 cents/lb on Thursday.
Overall, the cotton market faced pressure from weakening export demand and falling shipment volumes, coupled with broader economic factors such as currency and energy price changes.