US Upland cotton sales ease as shipments stay firm in week of Dec 18

Net Upland sales for the current marketing year totalled 182,700 running bales (RB). This was down week on week from 304,700 RB (week ended December 11) and also lower than 279,100 RB in the corresponding week last year, pointing to softer near-term buying after the previous week’s spike. Forward sales for the next marketing year were just 900 RB, sharply below 15,000 RB the prior week and 29,500 RB a year earlier, reinforcing the view that mills remain hesitant to extend coverage.

Outstanding Upland sales edged up to 3.674 million RB from 3.64 million RB the prior week but remained well below 4.934 million RB a year earlier, signalling thinner forward order books compared with last season. Accumulated Upland export shipments rose to 2.692 million RB from 2.54 million RB a week earlier and were also higher than 2.552 million RB a year ago, indicating that shipments continue to run ahead of last year despite choppier sales flows. Weekly Upland cotton shipments totalled 146,900 RB, up from 134,400 RB a week earlier, reflecting stronger execution of existing contracts.

Vietnam led weekly shipments with 40,400 RB, followed by Pakistan (15,700 RB), Bangladesh (13,200 RB), Mexico (10,800 RB) and Guatemala (8,600 RB). Malaysia received 6,700 RB, Peru 4,600 RB, Honduras 2,900 RB and Ecuador 2,500 RB.

Vietnam also remained the top buyer, booking 108,300 RB of net sales for the current marketing year. Pakistan followed with 29,500 RB, while Bangladesh purchased 13,100 RB. China recorded 11,400 RB of new sales, though destination changes of -3,400 RB suggest adjustments within the book. India bought 9,300 RB and Indonesia booked 9,800 RB, including 900 RB of cancellations. Turkiye secured 7,900 RB, while smaller sales were reported for Taiwan (2,600 RB), Thailand (1,800 RB, including a -100 RB destination change), Mexico (1,800 RB), Guatemala (1,600 RB), El Salvador (1,100 RB) and Japan (400 RB).

Pima activity remained modest but steady. Net Pima sales reached 9,100 RB, slightly above 8,900 RB a week earlier and well above 2,600 RB a year ago. Outstanding Pima sales rose to 65,800 RB from 63,900 RB the prior week but remained below 83,300 RB a year earlier, while accumulated Pima exports stood at 130,400 RB, compared with 155,500 RB a year ago.

Overall, the data show a clear split: bookings cooled after an unusually strong prior week, but shipments accelerated, keeping cumulative exports ahead of last year even as forward coverage remains comparatively light.

ALCHEMPro News Desk (KUL)