Cotton futures are showing losses of 90 to 100 points so far on Friday, with bearish USDA data and outside market factors. The outside markets are pressuring the market, with crude oil down $1.95/barrel and the US dollar index back up 610 points on the day.

This morning’s Crop Production report from NASS showed US cotton production down just 10,000 bales to 14.19 million bales. The export projection was also down 200,000 bales to 11.3 million bales, which helped to take the ending stocks projection 200,000 bales higher to 4.3 million.  For the world S&D table, the ending stocks total was down 580,000 bales at 75.75 million bales, mainly on a smaller carryover from the 2023/24 crop year.

The bi-monthly Cotton Ginnings report showed 2.402 million RB ginned in the last 2 weeks of October. As of November 1, US gins had ginned 4.696 million RB of cotton, a 5-year high for the date.

The Seam reported 6,272 bales of online sales on November 7 at an average price of 69.11 cents/lb. ICE cotton stocks were unchanged on Thursday, leaving 174 bales of certified stocks. The Cotlook A Index was down 20 points on 11/7 at 82.00 cents/lb. The USDA Adjusted World Price (AWP) was down another 58 points this week to 57.96 cents/lb in Thursday afternoon’s report. 

Mar 25 Cotton  is at 72.53, down 90 points,

May 25 Cotton  is at 73.82, down 96 points,

Jul 25 Cotton  is at 74.94, down 96 points