• After 43 days, the longest shutdown in U.S. history has finally ended. In addition to reopening the government, lawmakers also passed a mini-bus package that included agriculture, which means USDA is funded through the full fiscal year. That ensures the CCC loan should remain operational even if another shutdown happens early next year – a meaningful win for agriculture. Markets will still react to headlines, but at least the policy backdrop is more stable for now.
Market Movement from 10th Nov 2025 to 15th Nov 2025.
• With a bearish WASDE report and slow demand, NY Futures faced persistent selling pressure and closed in the red. NY Dec settled at 63.62 on 07-Nov and 62.49 on 14-Nov, recording a week-over-week loss of 113 points. Now, trade is shifting to the next active month, NY Mar, which closed with loss of 101 points W/W.
The November outlook for 2025/26 U.S. cotton supply and demand shows higher production, exports and ending stocks compared to September, with no change to consumption and imports. The forecast for U.S. production is raised almost 900,000 bales to 14.1 million, reflecting higher expected yields in most States and increasing the projected national average yield almost 7 percent to 919 pounds per harvested acre.
• Much to everyone’s relief, there finally appears to be an end in sight to the government shutdown, now in its 41st day and the longest in U.S. history. The Senate voted 60 to 40 late Sunday to advance a stopgap funding bill to reopen the government through January 30, paired with a three-bill minibus that provides full funding for Fiscal Year 2026 for Military Construction and Veterans Affairs, Agriculture, and the Legislative Branch.
Cotton Market Nears Bottom of Trading Range…But For How Long?
Cotton had an unhappy week as market backing and filling continued; unfortunately, this week’s price activity was all “backing.” The market is wearing a high 63-cent handle again, as foretold by textile mill activity. The weekly and daily closes were at the bottom of their respective trading ranges. Never good. Prices fell in unison with most other agricultural and industrial commodities.