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DTN Closing Cotton 12/24 12:22
Cotton Sleigh Rides Up
The cotton market closed higher today amid holiday position squaring.
Keith Brown
DTN Contributing Cotton Analyst
The cotton market closed higher today amid holiday position squaring. Some
traders sense that cotton's current depressed prices may be encouraging better
export sales, as evidenced in USDA's last report. Also, the weaker U.S. dollar
is seen as a long-term cotton positive.
The market will be fully closed on Christmas Day and will reopen Friday,
Dec. 26, at 6:30 a.m. EST. However, it will be another abbreviated session with
that closing at 1:05 p.m. EST. In addition, President Trump has ordered that
all executive departments and agencies of the U.S. federal government will be
closed on Wednesday, Dec. 24, 2025, and Friday, Dec. 26, 2025. Consequently,
USDA will be closed on Dec. 24, 25, and 26, and of course, the weekend.
USDA's next catch-up export-sales report will be released on Dec. 31. This
report will cover the week ending Dec. 18.
March cotton's first notice day is Feb. 23, which will occur in 39 sessions.
March open interest began today at 181,855 contracts, down 464 contracts on
Friday. Cert stocks began today at 11,600 bales, down 796 bales in
de-certifications. There are no bales awaiting review.
Crude oil was little changed today. Traders continue to weigh the risk of
supply disruptions from Venezuela and Russia, although prices were on course
for their steepest annual decline since 2020. Both major trading contracts,
Brent and WTI, contracts have gained about 6% since Dec. 16, when they plunged
to near five-year lows.
For Wednesday, March 2026 went out at 64.24 cents, up 23 points; July was
66.58 cents, plus 31 points; and December 2026 closed at 67.81 cents, up 35
points. Wednesday's estimated volume was 26,334 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
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