Market Reports
China Cotton Auction FINAL
  • 12-March-2018 To 30-Sept-2018

    METRIC TONNES
    Reserve Stock End Of 2017 5,256,286
    Cumulative Sales 2,510,279
    Remaining Stock 2,746,007

    BALES
    Reserve Stock End Of 2017 24,142,123
    Cumulative Sales 11,529,712
    Remaining Stock 2,612,411
Historical Revisions to Indian's Cotton Balance Sheet - USDA
  • Historical Revisions to Indian's Cotton Balance Sheet - USDA

    Historical revisions have been made to India’s balance sheet for the years 2002/03 through 2013/14, with the stock adjustment carried forward. The revisions are based on the conclusion that market yard arrivals data underreported arrivals in the early portion of the harvest season. This conclusion was based on observed market activity in November for several years.
Brazil: More cotton acreage is being planted
  • Shifting Corn Acres to Cotton

    While corn remains the major safrinha crop for Brazilian farmers, more cotton acreage is being planted in Mato Grosso this spring, as well.

    Over the past two years, cotton planting has increased by nearly one-third for the safrinha in Mato Grosso. The Brazilian Association of Cotton Producers(Abrapa) forecast cotton acreage to grow to 1.4 million hectares (3.46 million acres). Mato Grosso accounts for about 88% of Brazil’s cotton production.
DTN Cotton Close 18-Jul
  • Market Stays on Bearish Path

    The cotton market posted a new low and new low close Thursday amid disappointing exports-sales. Of course, such bearish action of making life-of-contract lows has become quite the habit for the market. To that end, there has been a daily pattern of rising open interest with declining volume. Our interpretation of that behavior suggests speculators continued to build upon their record net position, but ever quietly so given the low volume.
Cotton Indices and Spot Rate As on 17-Jul-2019
  • Cotlook A Index 74.20 -0.75

    US Upland Spot Rate 56.39 -0.23

    Brazil Cotton Index 68.81 -1.57%

    KCA Spot Rate 8,300 Unch

    MCX Spot Rate 21,350

    China Cotton Index
    As on 18-Jul-2019

    CC Index 328 14086 -00
    CC Index 227 13103 -02
    CC Index 229 14518 -01
ICE Cotton Update
  • Cotton falls on poor export sales, strong crop expectations

    ICE cotton futures fell more than 1% to touch new three-year lows on Thursday, hurt by weak export sales data and stronger crop conditions in major growing regions in the United States. The most-active cotton contract on ICE Futures US, the second-month December contract settled down 0.78 cent, or 1.25%, at 61.71 cents per lb. Prices for the second month contract touched 61.66 cents, its lowest since May 2016, earlier in the session.
Stock Position as on 17-Jul-2019
  • NCDEX

    Cotton Seed Oil Cake Stock
    Unencumbered = 7,074 MT
    Pledged = 2297 MT
    QTY in Process = 1546 MT

    MCX

    Total Utilized Capacity = 1,39,100 Bales
    Eligible for Exchange Delivery = 1,31,700 Bales
    Quantity in Process = 4900 Bales
    Rejected Stocks = 400 Bales
USDA Prospective Plantings
  • USDA Planting Intention

    US All cotton planted area for 2019 is estimated at 13.8 million acres, 2 percent below last year.

    Upland area is estimated at 13.5 million acres, down 2 percent from 2018.

    American Pima area is estimated at 255,000 acres, up 2 percent from 2018.
Reinhart Cotton Market Report 25 Apr
  • India – Physical prices traded steady last week on slow selling from ginners and slow emand from domestic mills. As per the latest CCI report, India’s current cotton crop arrivals reached 27.88 million bales until 16th April 2019. The Indian rupee depreciated against the US dollar and is now around 70.10 (spot), mainly due to surging crude oil prices.
Indian Raw Cotton Export-Import 2018-19
  • INDIAN COTTON EXPORT
    Including Cotton Waste

    Oct-2018 to Mar-2019
    6,63,386 Tones
    39,02,271 Bales of 170 Kg

    INDIAN COTTON IMPORT
    Including Cotton Waste

    Oct-2018 to Mar-2019
    1,01,072 Tones
    5,94,541 Bales of 170 Kg

China Cotton Auction
  • From May 5 to July 18, the cumulative turnover of reserve cotton was 509,000 tons, and the turnover rate was 87.91%. the highest traded price 15930 Yuan/ton, the lowest turnover of 11530Yuan/ton.
US Cumulative Cotton Export Sales - Countrywise
  • US Cumulative Cotton Export Sales

    01-August-2018 To 16-May-2019

    PIMA 7,07,319
    UPLAND 1,46,22,154
    TOTAL 1,53,29,473
ICAC - Cotton This Month
  • Looking Beyond the Uncertainties of Trade Tensions  

    The trade dispute between the United States and China has impacted cotton demand and supply chains over the course of the past year. On 1 June 2019, China is set to increase tariffs on $60 billion of US goods in retaliation to the US tariff increase on the remaining $200 billion worth of Chinese imports.
INDIA Cotton and Products Update
  • Highlight

    FAS Post estimates India’s marketing year (MY) 2019/20 cotton production at 29.3 million 480 lb. bales (37.5 million 170-kilogram bales/6.4 MMT) from 12.45 million hectares of planted area.

    MY 2019/20 cotton consumption at 25.3 million 480 lb. bales (32.4 million 170- kilogram bales/5.5 MMT)
Thompson On Cotton 06-Jun-2019
  • A Bounce With A Weak Starting Point

    Cotton prices have rebounded in the past few weeks due to unfavorable weather and encouraging export sales. But before you get too excited, this bounce is off lows in the mid 60s.
Cotton Inc. Monthly Economic Letter Jun-2019
  • Cotton Market Fundamentals & Price Outlook

    RECENT PRICE MOVEMENT

    Most benchmark prices decreased over the past month. Chinese prices moved sharply lower.

    Open interest has shifted from July and into the December contract.  After moving lower in early May, values for the July contract were volatile but range-bound between 65 and 70 cents/lb for most of the past month.  Values for the December contract also moved lower in early May.
Shurley on Cotton 18-Jun-2019
  • Prices Rally Off New Low, No Signs of a Push Higher

    New crop December futures have rallied from the recent new low below 65 cents. December is currently at 66+ and likely to track in the 65 to 68-69 cents range in the near term unless a major unforeseen factor arises.
Jernigan Global Weekly 24-Jun-2019
  • HIGHLIGHTS

    1. CONCERN REGARDING CHINESE COTTON DEMAND INCREASES AS SPINNERS REDUCE OPERATIONS

    2. HONG KONG DRAMA INCREASES AS FURTHER BREACHES OF TRUST OCCUR

    3. INDIAN MONSOON DELAYS REMAIN A CONCERN; CYCLONE VAYU BRINGS ISOLATED RAINS

    4. AT RETAIL, COTTON IS GAINING MARKET SHARE IN KNIT SHIRTS

    5. AUSTRALIAN SUPPLIES GROW TIGHTER AND BASIS FIRMER
Plexus Market Comments 27 June
  • So where do we go from here?

    By and large the market is still stuck in a 400-point trading range, as growers are unwilling to sell the market below 6500, but are waiting for rallies towards 70 cents to do so. Speculators are still holding a sizeable net short position, but the loss of downside momentum and/or one of the potential triggers mentioned above could spark some spec short-covering and new buying.
Cleveland On Cotton 28-Jun-2019
  • Don’t Panic

    The market continues to muddle through the early days of summer while suffering from poor demand and crop concerns in the U.S, and India. Granted, there are other important crops around the world that are drawing attention, especially Pakistan. However, it is very early in the season and plantings in northern hemisphere crop are only slightly behind.
PCCA Cotton Market Weekly
  • JUNE 28, 2019

    REPORTS RELEASED, FUTURES FINISHED THE WEEK UP

    • Crop Progress and Conditions a Mixed Bag Across U.S.
    • USDA Acreage Report Puts Cotton Planted Acres at 13.72 Million
    • U.S. Export Sales Relatively Low
    • Xi-Trump Meeting at G-20 Summit
INDIA Cotton and Products Update
  • Highlight

    FAS Post estimates India’s marketing year (MY) 2019/20 cotton production at 29.3 million 480 lb. bales (37.5 million 170-kilogram bales/6.4 MMT) with a planting area of 12.5 million hectares. Planted area for Kharif 2019 season in Northern India is 18 percent higher than last year, prompted by high domestic seed cotton prices.
Rose On Cotton 30-Jun-2019
  • ICE COTTON REMAINS RANGE – BOUND, TRUMP – XI (AND TRUMP – KIM) MEETING ENDS ON POSITIVE NOTE

    ICE cotton continued to consolidate for the week ending July 28, with the Dec contract posting a modest gain of 52 points; Dec gave up 99 points for the month of June.  The July – Dec spread weakened to (61) but remains well below full carry.
Shurley on Cotton 01-Jul-2019
  • 2019 Acreage, Production Will Remain a Mystery

    Last season, US farmers planted 14.1 million acres of cotton. Back in March, USDA’s Prospective Plantings report estimated that farmers intended to plant 13.78 million acres this year—2.3% less than last year.
Jernigan Global Weekly 01-Jul-2019
  • HIGHLIGHTS

    1. US COTTON EXPORT CRISIS AS 2019/2020 SEASON BEGINS DUE TO LACK OF INVESTMENT IN REGIONAL SUPPLY CHAIN

    2. MERCHANTS DISCOUNT 2018 CROP’S REMAINING US STOCKS AS SEASON DRAWS TO A CLOSE

    3. UNSOLD QINGDAO CHINESE PORT STOCKS AT RECORD LEVELS

    4. INDIAN MONSOON EXPANDS ACREAGE LEVELS IN DOUBT

    5. AUSTRALIAN NORTHERN TERRITORY HARVEST BEGINS; IS THIS THE NEXT COTTON BELT?
Plexus Market Comments 04 July
  • So where do we go from here?

    Since speculators seem to be losing their power to force the market any lower and with growers not willing to chase values below 65 cents at this point in time, it could set the stage for some short-covering rallies. However, the trade is extremely under-hedged at just 2.34 million bales net and it would therefore take a tremendous amount of buying power to push the market through all the scale-up trade resistance.
PCCA Cotton Market Weekly
  • JULY 5, 2019

    CHINA/U.S. AGREED TO TRUCE IN TRADE DISPUTE

    • U.S. to Hold Off Implementing New Tariffs While Trade Talks Continue
    • Crop Report Shows Mixed Conditions and Slow Progress for U.S. Cotton
    • WASDE Report Focal Point in Week Ahead
Rose On Cotton 07-Jul-2019
  • ICE COTTON POSTS MODEST GAINS ON HOLIDAY-SHORTENED WEEK, AHEAD OF JULY WASDE REPORT

    ICE cotton picked up 74 points for the week ending July 5, finishing at 66.82. The July – Dec spread weakened to (100).
    Last weekend, our proprietary model (timely prediction available in our complete weekly report) predicted a settlement that was to be near unchanged to higher Vs the previous Friday’s finish, which proved correct.
Jernigan Global Weekly 08-Jul-2019
  • HIGHLIGHTS

    1. GLOBAL COTTON MARKET APPEARS TO BE FOCUSING ON A SUCCESSFUL CONCLUSION TO THE US/CHINA TRADE CONFLICT - BUT WHAT HAPPENS IF IT FAILS?

    2. US APPAREL IMPORT DEMAND STRONGEST IN THE WORLD; MMF IMPORTS SOAR

    3. INDIAN MONSOON EXPANDS; MSP RAISED 2% FOR 2019/2020

    4. TURKEY’S COTTON IMPORTS SOAR IN MAY; VISCOSE FIBER INCREASES MARKET SHARE

    5. HONG KONG UNREST BEGINNING TO IMPACT TEXTILE AND APPAREL TRADE
U.S. EXPORT SALES
  • For Week Ending 04-07-2019

    2018-2019
    Net Upland Sales 53,400
    Upland Shipments 3,33,200
    Net Pima Sales 700
    Pima Shipments 10,800
    TOTAL SALES 54,100

    2019-2020
    Net Upland Sales 38,400
    Net Pima Sales 2,800
    TOTAL 41,200
Shurley on Cotton 11-Jul-2019
  • Market Signals Increasingly Unfriendly

    Cotton prices have been under attack. The meltdown started on Monday (July 8) and continued on Tuesday—new crop Dec19 futures losing 3 ½ cents over those 2 days. Prices tried to and did recover a bit yesterday (on Wednesday) before losing more ground today. Dec futures closed today with its nose just barely above 63 cents.
USDA -World Markets and Trade
  • China cotton imports in 2019/20 are expected to surpass the previous year’s robust level, reinforcing its position
    as the world’s largest importer. The current 2018/19 estimate, boosted this month, is expected to be the largest in 5 years as China supplements domestic supplies amid ongoing auctions of State Reserve stocks. Despite this strong upward trend in imports, U.S. exports to China have weakened as Brazil, Australia, and other countries have expanded both exports and market share.
Plexus Market Comments 11 July
  • So where do we go from here? 

    The market broke out of a sideways move this week and resumed its downtrend, which had its origin 13 months ago. Since reaching a top of around 96 cents in June 2018 the market has dropped 33 cents and there is still no end to this slide in sight.
PCCA Cotton Market Weekly
  • JULY 12, 2019

    NEW SELLERS SEND COTTON FUTURES LOWER

    • WASDE Contains Bearish News
    • Other Markets Gain Ground
    • No Closer to Trade Dispute Resolution
    • What to Expect From Tropical Storm Barry
Cleveland On Cotton 12-Jul-2019
  • USDA’s world supply demand report, released this past week, provided an understanding of the demise in cotton prices for not only the past two weeks, but also all the way back to February.  Yes, the Chinese-U.S. trade tiff has played a role, but 2019 world production is expected to the be second highest on record at a time when major concerns are being expressed about world cotton demand.
Rose On Cotton 14-Jul-2019
  • UGLY WEEK FOR ICE COTTON; SOME MID – SOUTH COTTON IN JEOPARDY FROM HEAVY RAINS

    It proved to be an exceptionally ugly week for ICE cotton, with the Dec contract giving up 414 points to settle at 62.68 – a life of contract low finish.  The July – Dec spread weakened to (106).
Jernigan Global Weekly 15-Jul-2019
  • HIGHLIGHTS

    1. TEXTILE AND APPAREL SOURCING FROM CHINA REACHES TIPPING POINT

    2. TEXTILE SUPLLY CHAIN BEING SQUEEZED BY US RETAILER BATTLE FOR MARKET SHARE

    3. US COTTON EXPORT SHIPMENTS SUGGEST US CARRYOUT COULD REACH 5.4 MILLION BALES

    4. TROPICAL STORM BARRY BRINGS EXCESSIVE RAINS TO US MID-SOUTH REGION

    5. INDIAN MONSOON FOLLOWS VERY ERRATIC PATTERN; SEVERAL MAJOR PROBLEM AREAS CONTINUE
USDA - Cotton and Wool Outlook
  • Global Cotton Mill Use Growth Varies by Country

    The latest U.S. Department of Agriculture (USDA) cotton projections for 2019/20 (August-July) indicate that world cotton mill use is forecast to resume its growth after a 1.3-percent decline in 2018/19. Global cotton consumption is projected at 124.3 million bales in 2019/20, 2.6 percent above 2018/19’s 121.1- million-bale estimate, as lower global cotton prices support the rebound.
U.S. EXPORT SALES
  • For Week Ending 11-07-2019

    2018-2019
    Net Upland Sales 54,000
    Upland Shipments 3,10,300
    Net Pima Sales -5,300
    Pima Shipments 11,400
    TOTAL SALES 48,700

    2019-2020
    Net Upland Sales 2,18,900
    Net Pima Sales 500
    TOTAL 2,19,400