Cotton futures saw gains across the board on Friday, with May contracts still down for the week. The support came from external factors, including a significant increase in crude oil prices and a decline in the US dollar index.
According to USDA Export Sales data from Thursday, total commitments for 2025/26 cotton reached 8.904 million RB as of February 26. This figure represents 79% of the USDA export estimate, falling behind the 92% average sales pace. Export shipments accounted for 41% of USDA’s number, below the 47% average pace.
Managed money increased their net short position in cotton futures and options by 7,569 contracts as of March 3, bringing the net position to 72,937 contracts. The Seam reported sales of 584 bales on March 5, averaging 54.29 cents/lb. The Cotlook A Index rose by 25 points to 74.75 cents, while ICE certified cotton stocks decreased by 798 bales on March 5.
On the trading front, Mar 26 Cotton closed at 63.19, up 16 points, May 26 Cotton closed at 64.2, up 16 points, and Jul 26 Cotton closed at 66.16, also up 16 points.
In other news, the Adjusted World Price was reduced by 40 points on Thursday to 51.44 cents/lb. Overall, the cotton market showed positive movement on Friday, with gains across various contract months.
Please note that the information provided in this article is for informational purposes only. The author, Austin Schroeder, has no positions in any of the securities mentioned. For more details, the original article can be found on Barchart.com.
