banner-slide-3

News Details

Home / News / DTN Cotton Close

DTN Cotton Close

Cotton Sees Friendly Numbers Friday

May 12, 2023

The cotton market benefited from better supply-demand updates from USDA.

The cotton market benefited from better supply-demand updates from USDA. The report showed smaller-than-expected new crop production and lower carryout. The only negative part was that global ending stocks remained above 92 million bales. Of course, Friday's numbers were actually "best guesses" from the agricultural agency.

The University of Michigan's consumer sentiment index fell to a six-month low of 57.7. Economists were expecting a May reading of 63.0. The survey also showed the outlook for inflation over the next five years climbed to 3.2%, tying the highest clip since June 2008. The data was seen as a negative for the Dow Jones, and related markets. 

The one- to five-day forecast continues to show amounts of up to 4 inches for certain areas of Texas. The extended six- to 10- and the eight- to 14-day outlooks carry above-normal chances for rain.

Friday afternoon, the CFTC will update its Commitments of Traders data. Of late, the managed-money funds have been loading up on the short side of the market. Currently, they stand at some 20,000-plus contracts net short.

For the week, July cotton was down 3.37 cents, for the month, it was off 0.27 cent and thus far for the year July is down 2.85 cents.

Friday, July settled at 80.53 cents, up 0.91 cent and December 2023 ended at 80.15 cents, 0.55 cent higher. Estimated volume was 29,096 contracts.

Latest News & Reports

USDA-WASDE

July-2024 COTTON: The July U.S. cotton projections for 2024/25 show higher acreage, production,...

Read More...

U.S. EXPORT SALES

For Week Ending 04-Jul-2024 Net Upland Sales 2023-24 Net sales of Upland totaling 54,100 RB ...

Read More...

PCCA Cotton Market Weekly

JULY 5, 2024 The cotton market consolidated lower in the holiday-shortened trade week. • L...

Read More...

U.S. EXPORT SALES

For Week Ending 27-Jun-2024 Net Upland Sales 2023-24 Net sales of Upland totaling 115,400 RB...

Read More...

Cleveland on Cotton

Cotton Plantings Report Surprises Market, Potential for Better Prices Remains June 30, 2024 De...

Read More...