ICE March 2026 cotton futures settled at 64.81 cents per pound, down 0.57 cent or 0.87 per cent. All active contracts—December, March, May and July—hit new contract lows amid broad market weakness. December 2025 cotton settled at 63.30 cents per pound, down 58 points. May 2026 fell to 66 cents, down 0.57 cent, while July 2026 declined 0.55 cent to 67.10 cents. Other contracts traded with losses between 21 and 41 points.
ICE cotton futures fell further as a stronger US dollar and declining crude oil prices dampened demand.
Key contracts hit new lows, with heavy rollover selling ahead of the Nov 21 notice date.
Trading volumes remained exceptionally high, while ICE stocks increased.
Market sentiment stayed cautious as US government neared reopening and traders awaited Friday’s USDA WASDE report for clearer direction.
The Dollar Index rose slightly by 0.05 per cent as investors analysed post-shutdown data and its impact on the Fed’s rate outlook. A stronger dollar makes US cotton more expensive for overseas buyers.
Crude oil dropped by more than $2 per barrel after OPEC forecast a global supply–demand balance by 2026, reversing earlier expectations of a shortage.
Daily trading volume reached 115,071 contracts, the eighth-highest on record, while 107,876 contracts cleared the previous day. Eleven of the top 14 all-time sessions occurred in 2025, with three of the top eight in the past four days, indicating heavy rollover activity. ICE deliverable stocks rose to 17,239 bales on November 11 from 13,749 bales on October 30, reflecting improved deliverable supply.
Analysts noted strong selling pressure as traders liquidated December positions ahead of the first notice date on November 21. The market remains cautious as the US government moves closer to reopening and the long-delayed USDA report approaches.
The US House was set to vote Wednesday to end the longest government shutdown in history, allowing federal data flow to resume.
Meanwhile, the Cotton Association of India (CAI) released its first estimate for the 2025–26 crop at 30.5 million bales, down 2.42 per cent year-on-year due to reduced planted area and delayed rains.
Overall, the cotton market remains under pressure from macroeconomic headwinds, weak crude oil, and rollover-driven selling, with traders now looking to Friday’s USDA report for direction.
This morning (Indian Standard Time), ICE December 2025 cotton was trading at 63.24 cents per pound (down 0.06 cent), cash cotton at 60.80 cents (down 1.01 cent), March 2026 at 64.86 cents (up 0.05 cent), May 2026 at 66.05 cents (up 0.05 cent), July 2026 at 67.57 cents (up 0.12 cent), and October 2026 at 67.59 cents (down 0.21 cent). A few contracts remained at their previous closing levels, with no trading recorded so far today.
Fibre2Fashion News Desk (KUL)