Cotton futures are reverting to continued weakness, despite an overnight recovery. Contracts are down 88 to 101 points at midday, as May is showing thin trade.

This morning’s Export Sales report showed 97,408 RB of upland cotton sold in the week ending on April 25, down 45% from the previous week. New crop sales totaled 34,407 RB, the lowest in 4 weeks. Export shipments in that week dropped to a 14-week low to 179,980 RB.

Monthly export data from Census showed 1.63 million bales of cotton (excluding linters) shipped during March. That was a 3.63% increase over the same month last year, and the largest since June 2022.

ICE certified cotton stocks were up 3,007 bales on the first of May at 186,121 bales. The Cotlook A Index was back down 300 points on May 1 at 85.30 cents/lb. The AWP dropped another 85 points to 61.33 last Thursday and will be updated later today. The Seam reported 2,299 bales of cotton sold on Wednesday at an average price of 67.85 cents/lb.

May 24 Cotton  is at 75.81, down 211 points,

Jul 24 Cotton  is at 75.63, down 88 points,

Dec 24 Cotton  is at 74.29, down 88 points