The cotton market remained quiet before the US Department of Agriculture (USDA) released the Global Agricultural Supply and Demand Report (WASDE) on Friday. The report finally provided a negative outlook for increased US production and rising ending inventories. External factors influenced broader market sentiment, including strong economic data, the avoidance of port strikes, and the strengthening of the dollar.
The March cotton contract on the Intercontinental Exchange (ICE) closed at 67.01 cents/pound on Friday (January 10), falling in the week.
In addition to WASDE report and export sales report, it was difficult to find new trading information guidance for cotton futures in March this week (January 3-9). ICE futures closed at the contract low this week, and selling pressure may be driven by the pricing of speculators and producers. In general, the market is quiet, and there is limited information affecting trading activities. Two way trading appeared in cotton trading, which has remained within the range in recent weeks. The following WASDE analysis is not part of the weekly market report; However, I think its importance to the market is worth reporting when it is released.
Post time: 2025-01-14 09:20