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DTN Closing Cotton 07/01 13:33
Cotton Ends Flat
Despite the bearish acres numbers of Monday, some traders were expecting
some sort of Tuesday recovery.
Keith Brown
DTN Contributing Cotton Analyst
Despite the bearish acres numbers of Monday, some traders were expecting
some sort of Tuesday recovery. However, the "numbers drag" of USDA's report,
plus the approaching three-day holiday weekend, likely discouraged most traders
from buying.
On Thursday, USDA will issue its weekly export sales data. Last week's
business showed sales for the expiring old crop season were 27,300, while sales
for new crop were only 64,700 bales. Weekly shipments were 184,000 bales, down
10%.
Also on Thursday, the Labor Department will release its monthly jobs report.
Current estimates for non-farm payrolls are 120,000 versus the previous 139,000
jobs.
July cotton is in delivery period, but there were zero notices tendered
today. Thus far, there have been a total of 225 notices tendered. The period
ends on July 9.
The 6-to-10-day weather outlook (July 6-10) shows West Texas with normal to
slightly below-normal temperatures, while the Delta and the Southeast look to
have much-above normal readings. Rain-wise, most of the U.S. Cotton Belt looks
to have normal to slightly-above normal opportunities, but especially so in the
Delta and the Southeast.
The cotton market will be closed on Friday, July 4, in observance of
Independence Day. The ICE futures will reopen at 8 a.m. EDT on Monday.
For Tuesday, December 2025 finished at 68.03 cents, minus 10 points; while
March 2026 closed at 69.31 cents, off 15 points. Tuesday's estimated volume was
37,864 contracts.
Keith Brown can be reached at commodityconsults@gmail.com
(c) Copyright 2025 DTN, LLC. All rights reserved.
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