Cotton futures posted losses of 18 to 33 points on Thursday, despite a fairly bullish WASDE report. Crude oil prices were up 82 cents/barrel, with the US dollar index falling $0.754 to $97.850.
USDA showed a 400,000 bale increase to the US export figure for 2024/25, dropping stocks by the same amount to 4.4 million bales. That, mixed with a smaller production (lower harvested acres and yield) by 500,000 bales, took the new crop US carryout down 900,000 bales to 4.3 million.
The weekly Export Sales report from USDA showed a marketing year low 60,180 RB in 2024/25 bookings. That was 45.18% below the previous week. Vietnam was the buyer of 28,000 RB, with 18,600 RB told to India. Sales for 2025/26 were 36,102 RB back down from the week prior. Shipments were tallied at 236,251 RB, an 18-week low. The top destination was Vietnam at 59,100 RB, with 40,800 RB to Turkey.
The Seam reported 2,025 bales of online sales on Wednesday at an average prices of 68.21 cents/lb. The Cotlook A Index was back down 45 points on 6/11 at 78.05. ICE cotton stocks were up 8,794 bales on June 11 via new certifications, with a certified stocks level of 62,212 bales. USDA’s Adjusted World Price (AWP) was back up 26 points on Thursday afternoon at 54.02 cents/lb.
