Cotton Slipping Lower as CONAB Raises Brazilian Output

Austin Schroeder Barchart Thu Feb 13, 7:30AM CST
Closeup of cotton plant via bobbycrim via Pixabay

Cotton prices are facing pressure on Thursday morning, with losses of 50 to 70 points. Futures closed the midweek session with the gains of 2 to 12 points. The outside markets were pressure factors on the midweek session, as crude oil futures were down $2.10/barrel, with the US dollar index $0.057 higher on the day.

CONAB estimates the 2024/25 Brazilian cotton crop at 3.76 MMT (17.27 million bales), which is up 0.07 MMT (280,000 bales) from their previous projection. 

ICE cotton stocks were left at 218 bales of certified stocks on February 11. The Seam reported 20,131 bales of online sales on 2/11 at an average price of 62.17 cents/lb. The Cotlook A Index was back up 100 points on Tuesday at 78.05 cents/lb.  The USDA Adjusted World Price (AWP) was reported at 53.18cents/lb last Thursday and will be updated again on tomorrow afternoon.

Mar 25 Cotton  closed at 67.47, up 7 points, currently down 69 points

May 25 Cotton  closed at 68.57, up 12 points, currently down 70 points

Jul 25 Cotton  closed at 69.49, up 2 points, currently down 57 points


On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.