⛏Cotton Futures
COTTON
▲ PositiveSupplyrelevance
USDA left ending stocks unchanged and trimmed global ending stocks, while ginning data shows higher production but futures rally on supply tightness.
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Cotton futures are trading higher on Wednesday, with gains ranging from 41 to 83 points across contracts. The USDA left its U.S. cotton ending stocks estimate unchanged at 4.9 million bales in its latest supply and demand report, while lowering the average farm price by 50 points to 63 cents per pound. The Cotton Ginnings report showed an additional 162,950 running bales ginned in February, bringing the season total to 14.124 million running bales, which is 20.23 percent above the same period last year. On the global side, 2024/25 ending stocks were trimmed by 80,000 bales to 78.33 million bales, reflecting a 200,000-bale cut for Brazil due to higher exports, partially offset by a 100,000-bale increase for Australia. The Cotlook A Index rose 75 points on March 10 to 77.70 cents per pound, while the USDA reduced the Adjusted World Price by 201 points to 51.88 cents per pound last Thursday.
USDA left ending stocks unchanged and trimmed global ending stocks, while ginning data shows higher production but futures rally on supply tightness.