Cotton futures posted a sharp Thursday rally with contracts up 58 to 136 points on the day. The outside markets were supportive today, with crude oil up 48 cents/barrel. The US dollar index was down 765 points to 104.220 on the day, as the Fed rate decision was as expected with a 0.25% rate cut.

Export Sales data showed 229,039 RB of upland cotton bookings in the week of October 31, which was a marketing year high. Pakistan was the buyer of 72,200 RB, with Vietnam buying 71,800 RB, and 37,500 RB sold to China. Export shipments were 145,832 RB in that week, the third largest total so far this MY. The top destination was Pakistan of 50,400 RB, with 21,100 RB on his way to Vietnam.

A USDA update in their baseline projections for next decade this afternoon shows projected 2025/26 cotton acreage at 10.8 million acres, down from 10.974 million this year. 

ICE cotton stocks were unchanged on Tuesday, leaving 174 bales of certified stocks. The Cotlook A Index was steady again on 11/6 at 82.20 cents/lb. The USDA Adjusted World Price (AWP) was down another 58 points this week to 57.96 cents/lb in this afternoon’s report. 

Mar 25 Cotton  closed at 73.43, up 135 points,

May 25 Cotton  closed at 74.78, up 125 points,

Jul 25 Cotton  closed at 75.9, up 111 points