banner-slide-3

News Details

Home / News / DTN Cotton Close

DTN Cotton Close

Cotton Lower Again Thursday

May 25, 2023

The cotton market lost more ground Thursday, as beneficial weather, no results on budget talks and more concern over rising interest rates continues to pressure the market.

The cotton market lost more ground Thursday, as beneficial weather, no results on budget talks and more concern over rising interest rates continues to pressure the market.

DTN weather forecast for the Delta notes soil moisture continues to be mostly favorable for developing crops. Drier conditions have developed in the region and are likely to continue for the next week. Shower potential returns next week. Overall conditions continue to be good across the region for developing crops for now. Thursday's update of the U.S. Drought Monitor continued to show extreme to exceptional drought conditions over the southwestern Plains, but moisture improvement was noted in western Texas and around the Texas Panhandle.

The U.S. dollar traded higher again Thursday, after hitting a new high yesterday. The market focus remains on the talks over solving the U.S. debt ahead of the June 1 deadline for default. DTN Lead Analyst Todd Hultman noted that, "Debt ceiling talks may be a concern for cotton traders as a government shutdown could strain relations with China as China is the No. 2 holder of U.S. Treasuries, behind Japan."

Thursday's weekly export-sales report for last week was down 1% from the previous week and down 35% from the prior four-week average. Thursday morning's export sales report showed 131,200 running bales of cotton export sales for 2022-23, with China as the top buyer.

On Thursday, December 2023 ended at 78.50 cents, down 1.78 cents.

Latest News & Reports

Basis Comparison of ICS 105 with ICE Futures and Cotlook A Index - 30th November  2024

Tabulation & Chart regarding the Basis Comparison of ICS 105 with ICE Futures & Cotlook A Index-30-1...

Read More...

U.S. EXPORT SALES

For Week Ending 21-Nov-2024 Net Upland Sales 2024-25 Net sales of Upland totaling 324,100 RB...

Read More...

Cleveland on Cotton

Cotton Market Shows Life as March Contract Period Begins November 25, 2024 Strong export sales...

Read More...

Basis Comparison of ICS 105 with ICE Futures and Cotlook A Index - 25th November  2024

*Tabulation & Chart regarding the Basis Comparison of ICS 105 with ICE Futures & Cotlook A Index-25-...

Read More...

PCCA Cotton Market Weekly

NOVEMBER 22, 2024 *Cotton futures experienced a mixed week, starting with a sharp decline but rec...

Read More...