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Thursday Cotton Market Faces Pressure as Price Consolidates Lower
Cotton price action turned decidedly bearish in early Thursday trading, with the contract shedding 15 to 26 points as market sentiment shifted. What started as modest overnight gains—up 3 to 5 points at midday—quickly evaporated as selling pressure intensified throughout the session.
The broader commodity complex offered little support. Crude oil futures retreated 76 cents per barrel, settling near $56.40, while the US dollar index strengthened by $0.173 to $98.335. This combination of a stronger dollar and weaker energy prices typically weighs on commodity demand, including textile materials like cotton.
Market Fundamentals Remain Challenging
Recent market data underscores the headwinds facing cotton prices. The Seam’s Tuesday online auction cleared 41,576 bales at 61.13 cents per pound, reflecting ongoing pricing pressure. Meanwhile, the Cotlook A Index posted a modest 65-point gain on January 6, reaching 74.70 cents. On the supply side, ICE certified cotton stocks held steady at 11,510 bales as of January 6, providing some stability despite near-term price weakness.
The Adjusted World Price, updated last week, moved higher to 50.76 cents per pound—a 74-point gain from the prior week—yet this strength hasn’t translated into sustained upside for today cotton price action in futures markets.
Futures Contract Performance
Mar 26 cotton futures finished at 64.85, down 21 points for the session and currently trading 26 points lower from that close. May 26 cotton closed at 66.27, declining 16 points with current weakness extending the loss to 24 points. Jul 26 cotton finished at 67.61, down 13 points on the day and now trading 23 points below that level. The progressive decline across all contract months suggests weakness is broadening rather than isolated to front-month delivery.
For traders, this consolidation phase presents a critical juncture—whether today cotton price action signals deeper correction or temporary pause in the recovery remains to be seen.