Cumulative sales for 2022/23 have reached 8.859 million bales!

Cumulative sales for 2022/23 have reached 8.859 million bales!

Hi our beloved customers:

We would like to update cotton news by Vigotex:

  • ICE 2023 Mar: Closed 82.29 c/lb, +0.25 cents;
  • ICE 2023 July: Closed 82.87 c/lb, +0.52 cents;
  • ICE 2023 Dec: Closed 80.79 c/lb, +0.71 cents;
  • Estimated volume: 38,992 contracts.


              The cotton market was essentially higher Friday, but only fractionally so. After its severe drubbing of Thursday's supply-demand data, some traders decided to buy back ahead of the three-day weekend. The market will be closed Monday in observance of Martin Luther King Day.

          From Thursday's export-sales report we note that cumulative sales for 2022/23 have reached 8.859 million bales, down from 10.994 million a year ago, and the lowest level since the 16/17 season. Sales have reached 73% of the USDA forecast for the marketing year versus a five-year average 79%. The largest buyer this week was Turkey at 19,646 bales, followed by China at 16,438 and Vietnam at 11,795. The next export-sales report will be on Friday, Jan. 20, at 8:30 a.m. EST.

          The U.S. Dollar Index traded slightly higher Friday, as it rebounded from its steep sell-off of Thursday. The dollar hit its lowest level since June 6,

following economic data (CPI) that showed cooling U.S. inflation, firming up expectations the Federal Reserve will slow the pace of its interest rate hikes.

The central bank meets later this month to decide those policies.

          Summarizing its trading, spot March finished down 339 points on the week, off 108 for the month and year.