DTN Closing Cotton            11/28 13:00

   Cotton Stays Aloft 

   The cotton market remained positive Friday, although volume was low and 
trading hours were abbreviated. 

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market remained positive Friday, although volume was low and 
trading hours were abbreviated. Earlier the market saw a backlogged, but 
decent, export sales report, as well as strong outside financial and 
commodities markets.

   USDA issued its cotton export sales report Friday for the week ended Oct. 
16. It showed net sales of 175,678 bales for the 2025-26 (current) marketing 
year and net sales of 26,840 for 2026-27 for a total of 202,518. This was up 
from 157,636 the previous week and was the largest since Sept. 11. Shipments 
were the highest since July at 159,631 bales versus 57,834 for the same week 
last year and a 5-year average for this week of 129,000. Cumulative sales for 
2025-26 have reached 4.75 million bales, down from 5.30 million at this time 
last year and below the 5-year average of 7.218 million and the lowest since 
2015-16. Sales have reached 42% of the USDA forecast versus a 5-year average of 
58% for this point in the marketing year. The largest buyer this week was 
Mexico at 59,131 bales, followed by Vietnam at 43,615 and Turkey at 33,081. 
China was number-five at 12,832 bales, while India was number six at 5,283. In 
yearly totals, India is in seventh place at 247,300 bales, and China at 12th, 
with 132,700 bales.

   The next update will be released on Monday, and it will cover the week 
ending Oct. 23.

   In observance of the Thanksgiving holiday, the ICE Exchange closed cotton 
trading today at 1:30 p.m. EST.

   Spot December contract is in its delivery period, and there were two notices 
issued for Friday. Thus far, the total notices tendered stand at 173 contracts. 
Delivery runs through Dec. 7.   

   CFTC's previous "catch-up" Commitments of Traders report release on 
Wednesday showed managed-money funds posted a new record net-short position in 
excess of 80,000-plus contracts.

   For Friday, March 2026 went out at 64.73 cents, plus 16 points; July was 
66.96 cents, up 19 points; and December 2026, halted at 68.15 cents, plus 33 
points. Friday's estimated volume was 21,237 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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