Cotton price action is down 7 to 8 cents, with contracts 2 to 3 cents in the green. Futures closed with losses of 16 to 31 points across most contracts on Thursday. Crude oil futures fell back lower on Thursday, down $2.06/barrel. The US dollar index was falling, with losses of $1.888 so far on the day to $100.735.

USDA reported a 100,000 bale increase to the US ending stocks estimate to 5 million bales in Thursday morning’s WASDE release. That came via a 100,000 bale cut to exports. World ending stocks for 2024/25 were up 530,000 bales to 78.86 million bales. 

Export Sales data showed a total of 115,082 RB in sales during the week ending on April 3, a 10.86% drop from last week. Vietnam was the largest buyer of 64,800 RB, with Turkey buying 19,100 RB. Export shipments were tallied at 377,200 RB in that week, a 3-week low. The largest destination was Vietnam of 128,400 RB, with 69,100 RB headed to Pakistan.

CONAB showed a slight increase to their Brazilian cotton production estimate on Thursday morning, up 0.07 to 3.89 MMT.

The Seam reported 670 cash bales sold on Wednesday, at an average price of 56.98 cents/lb. The Cotlook A Index was back down 40 points on April 9 at 77.55 cents/lb. ICE cotton stocks were steady on 4/9, with the current level of certified stocks at 14,488 bales. USDA’s Adjusted World Price (AWP) was back down 212 points last week to 53.10 cents/lb. 

May 25 Cotton  closed at 66.47, down 16 points, currently down 5 points 

Jul 25 Cotton  closed at 67, down 31 points, currently up down 7 points

Dec 25 Cotton  closed at 68.28, down 19 points, currently up 2 points