US Upland cotton exports slightly down but better than expectations

According to the USDA’s weekly sales report, demand was led by Vietnam, China, India, Guatemala, and Pakistan, reflecting an order flow similar to recent weeks. Minor reductions were recorded from Thailand and Vietnam. Optional-origin and unknown-destination positions remained unchanged during the period, suggesting stable forward contracting.

Export shipments of Upland cotton reached 139,300 RB, slightly below the previous week but still within the typical shipment range observed earlier this marketing year. Vietnam, India, Turkiye, Mexico, and China accounted for most of the shipped volume, reinforcing their status as major buyers in the current cycle.

Net sales of Pima cotton totalled 3,000 RB for the week, moderately higher than the comparable level of 2,600 RB a year earlier, indicating consistent demand despite market uncertainty. Purchases were primarily from India, Peru, and Bangladesh, with no cancellations and no reported new purchases for the next marketing year.

Pima export shipments reached 4,800 RB, reflecting a slower pace than Upland shipments but remaining in line with recent weeks. The largest volumes were shipped to India and Peru, followed by Vietnam and Bangladesh.

Outstanding Upland commitments now stand at 3.23 million RB, compared with 4.08 million RB in the same week last year, indicating lighter forward positions year on year. Accumulated Upland exports reached 1.34 million RB, slightly above last year’s 1.22 million RB, suggesting stronger physical movement despite weaker new sales.

For Pima, outstanding commitments stood at 58,300 RB, down from 95,400 RB last year, while accumulated exports reached 68,600 RB, compared with 76,800 RB a year earlier.

ALCHEMPro News Desk (KUL)