Cotton futures slide into the weekend as December contract posts 291-point weekly drop
AI Market Summary
Cotton futures extended losses into Friday, with December down 291 points on the week, signaling softer near-term pricing despite higher crude and a slightly firmer dollar. Old-crop export commitments exceed the USDA projection, but shipments lag recent years, highlighting demand and logistical softness. Managed money increased net longs, suggesting positioning risk if fundamentals fail to improve. Certified ICE stocks were unchanged, limiting any inventory-driven support.
Impact level
● Medium
Affected assets
NCCOCOTTON2USD/USDT-0.00%
AI Insight · NCCOCOTTON2USD/USDTAI Insight
▼ Bearish
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Cotton futures extended losses on Friday, with the December contract down 291 points for the week. Old-crop export commitments reached 102% of the USDA export projection, though they remain behind recent years, while new-crop sales totaled 2.51 million RB. Managed money increased its net long position to 49,684 contracts, alongside unchanged ICE certified stocks at 98,838 bales. The U.S. dollar index edged up 0.011 and crude oil rose $3.50 per barrel.
