Yesterday, the ICE cotton May 2025 contract settled at 65.68 cents per pound (0.453 kg), up 0.54 cent. The December contract also settled at 69.29 cents, gaining 49 points. Other contracts settled with gains between 2 and 47 points.
Higher crude oil prices supported cotton as they made polyester more expensive. International oil futures rose after US crude and fuel inventories fell last week. Market concerns over tightening global oil supplies further contributed to the price rise.
The grain market strengthened, with corn and soybean prices rising, providing additional support.
US consumer confidence dropped to a four-year low, increasing market uncertainty. Future expectations fell to a 12-year low due to recession fears and inflation concerns. Data from The Conference Board highlighted consumer worries over tariffs and an economic slowdown.
Traders will be closely monitoring the USDA weekly export sales report, due on March 28, for clarity on demand.
ICE deliverable No. 2 cotton stocks remained unchanged at 14,488 bales as of March 25.
Currently, ICE cotton for May 2025 is trading at 66.07 cents per pound (up 0.39 cent). Cash cotton is trading at 63.18 cents (up 0.54 cent), the July 2025 contract at 67.55 cents (up 0.33 cent), the October 2025 contract at 69.16 cents (up 0.33 cent), the December 2025 contract at 69.55 cents (up 0.26 cent), and the March 2026 contract at 70.70 cents per pound (up 0.44 cent). A few contracts remained at the previous closing level, with no trading noted today.
ALCHEMPro News Desk (KUL)
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