• We’re 34 days into the shutdown, with leaders still holding firm. Some movement is happening behind the scenes as senators work on FY2026 spending, and the restart of SNAP payments offers a bit of relief. Markets are starting the week cautiously after Powell cooled expectations for a December rate cut, keeping the dollar firm and risk appetite limited. Attention now shifts to Wednesday’s ADP jobs report, a read on private-sector hiring, and to major commodity earnings for clues on demand and margins.
• During October, NY December futures traded within a narrow range of 63.50 to 65.50 cents, reflecting limited activity ahead of the notice period. Similarly, NY March futures moved in a confined band between 65.00 and 67.50 cents.
Monitor Market Events on Cotton’s Horizon for Price Impact
Cotton has enjoyed a good run as December futures have finished higher in six of the last seven trading sessions. The 65-cent handle was associated with the market over the past week, with a very brief trip below 64 cents as well as even sticking its nose above 66 cents.
Market Movement from 27th Oct 2025 to 01st Nov 2025.
• NY Futures experienced a positive trend this week, supported by encouraging developments from the Trump–Xi meeting regarding U.S. agricultural products.
• Aside from the ongoing government shutdown — now in its 27th day with no end in sight — this could be the busiest week markets have seen since October 1. President Trump and President Xi made headlines over the weekend after reports that the U.S. and China have agreed on a preliminary framework to ease trade tensions, with agricultural goods specifically mentioned in the tariff discussions.
Cotton Export Business Remains Slow as Prices Settle
Cotton prices continue to back and fill, which is excellent compared to the downtrend of recent months. Any “filling” implies the market found its price bottom. Going into the close, the December contract was up for the day but down 10-12 points for the week. Nevertheless, the 64-cent handle appears to fit the market quite well.