ICE cotton futures extend gains Monday; October contract settles at 77.37 cents/lb
AI Market Summary
ICE cotton futures extended gains as US crop progress data showed development running slightly ahead of normal and condition ratings improving to 45% good/excellent. Stable boll-setting pace and unchanged certified stocks suggest no immediate supply shock, while recent spot sales at higher average prices add near-term demand confirmation. A firmer USD and higher crude were present but did not prevent cotton from holding strength.
Impact level
● Low
Affected assets
NCCOCOTTON2USD/USDT+1.78%
AI Insight · NCCOCOTTON2USD/USDTAI Insight
▲ Bullish
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ICE cotton futures rose 9 to 37 points on Monday, with the most-active October contract settling at 77.37 cents per pound, up 30 points. U.S. crop progress showed 73% of cotton was squared and 32% was setting bolls, while the good-to-excellent rating edged up to 45%. In the cash market, 2,299 bales traded Friday at an average of 80.40 cents per pound. Those figures provided near-term fundamental support for cotton futures.
