Cotton Trade is Stagnant

The cotton market is quietly trading on this New Year’s Eve as most 2025 cash business has been done. In fact, several merchant houses are running skeleton desks and may close early. Yet, before Wednesday’s final 2025 settlement, certain speculators may square some positions as well.

USDA will release catch-up export sales data Wednesday at 8:30 a.m. EST, and then again on Monday. Traders hope to see additional Chinese participation. The last report showed sales of 304,700 bales, the strongest since Nov. 6. Thus far, cumulative sales have reached just 55% of the USDA forecast versus a five-year average of 71% for this point in the marketing year.

The CFTC will issue fresh Commitments of Traders information Wednesday, and then again on Monday. At last count, the managed-money funds were net short some 55,000 contracts. For context, their record bearish position w

The ICE cotton futures will trade a full session Wednesday, be closed Thursday, and then resume a normal session on Friday, the first of 2026.

Daily chart support for March cotton stands at 64.00 cents and 63.50 cents, with resistance hovering about 65.00 cents and 66.00 cents. Wednesday morning’s estimated opening volume is 3,380 contracts.

Keith Brown can be reached at commodityconsults@gmail.com or by calling (229) 890-7780.