Yesterday, the ICE cotton March 2025 contract settled at 67.61 cents per pound (0.453 kg), up by 0.14 cents. The contract reached its highest level since January 10.
ICE cotton futures rose on strong US exports and a weaker dollar, with March 2025 settling at 67.61 cents/lb, its highest since January 10.
Weekly exports hit 348,900 bales, up 10 per cent. Volume on January 24 was 42,170 contracts.
Despite strong exports, traders remain cautious amid record-high on-call purchases.
Mixed sentiment persists on price direction.
The US dollar index hit its lowest level in over a year, trading at 107.245. Previously, it had risen to around 110.
Weekly movement was marginal, with March futures up 1 point overall. Other contracts settled 13 points higher to 31 points lower for the day and ended the week between 112 points higher and 56 points lower.
The volume on January 24 totalled 42,170 contracts, with 35,235 contracts cleared the previous day. ICE’s deliverable No. 2 cotton futures inventory remained at 218 bales, unchanged from the previous trading day.
The USDA’s weekly export sales report showed net sales of 348,900 bales for the week ending January 16, the highest of the season and a 10 per cent increase from the previous week. This was also 62 per cent higher than the four-week average. Despite the strong export report, traders exercised caution due to record-high on-call purchases reported in the CFTC Commitment of Traders report.
Analysts highlighted strong export sales and ongoing shipments as positive signals for cotton prices to edge higher. Market sentiment remains mixed, with export strength and speculative positioning contributing to uncertainty.
ICE cotton for March 2025 settled at 67.61 cents per pound (up 0.14 cent). Cash cotton traded at 65.11 cents (up 0.14 cent), the May 2024 contract at 68.67 cents per pound (up 0.13 cent), the July 2025 contract at 69.77 cents (up 0.13 cent), the October 2025 contract at 69.87 cents (up 0.04 cent), and the December 2025 contract at 69.50 cents (up 0.04 cent).
Fibre2Fashion News Desk (KUL)
