Yesterday, the ICE cotton December contract settled at 71.93 cents per pound (0.453 kg), down by 14 points. The March 2025 contract was lower by 16 points, reaching 73.76 cents.

The dollar index gained nearly 0.5 per cent as it recovered from a low level, making cotton purchases more expensive for foreign buyers, according to trade analysts.

The trading volume was 14,253 contracts. Trade in the cotton market was limited due to a lack of clear triggers. It was the lowest since Christmas 2023. Open interest increased for 11 consecutive sessions, with a slight increase of 1 contract to 218,622 contracts yesterday.

The USDA Weekly Export Report was better than expected, but it was below average.

On Friday, ICE cotton for December 2024 was traded at 71.94 cents per pound, up 0.01 cent. Cash cotton traded at 66.37 cents (up 0.75 cents), the October contract at 71.37 cents (up 0.25 cents), the March 2025 contract at 73.77 cents per pound (up 0.01 cent), the May 2025 contract at 75.09 cents (up 0.02 cents), and the July 2025 contract at 75.87 cents (down 0.05 cents). A few contracts remained at the level of the last closing, with no trading noted today.

Fibre2Fashion News Desk (KUL)