Cotton price action is starting Wednesday morning with another round of weakness, with losses of 29 to 45 points in the nearbys. futures closed the Tuesday session with contracts down 30 to 51 points. Crude oil futures were back down $0.88/barrel, with the US dollar index down $0.095 on the day. The two day Fed meeting will conclude this afternoon, with an interest rate decision announcement following. Most expect to see ranges unchanged this month.
S&P Global estimates the 2025 US cotton acres at 10.2 million acres, a 250,000 acres reduction from their January number and 1 million acres below last year’s total if realized. We will get the USDA’s official survey ideas in the March Intentions report at the end of the month.
The Monday online auction from The Seam showed 1,950 bales sold at an average price of 58.65 cents/lb. The Cotlook A Index was back up 85 points on 3/17 at 79.25 cents/lb. ICE cotton stocks were steady again on March 17, with the current level of certified stocks at 14,488 bales. The USDA increased the weekly Adjusted World Price (AWP) by 188 points last Thursday to 53.76 cents/lb.
May 25 Cotton closed at 66.47, down 51 points, currently down 45 points
Jul 25 Cotton closed at 67.88, down 36 points, currently down 37 points
Dec 25 Cotton closed at 69.56, down 30 points, currently down 29 points
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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