Response of U.S. Cotton Export Sales to ICE Cotton Futures Price (Scroll Down for More Discussion)
Discussion
The red line shows daily settlement of nearby ICE cotton futures, in cents per pound. The blue peaks and valleys reflect weekly net export sales, with the latest observations on the right-hand-side for the 2026/27 marketing year, in thousands of running bales. The graph generally shows the expected demand response to fluctuating futures prices for the 2026 crop. (The exception is the occasional end-of-the-marketing-year spike, like in early August, 2026, which really reflects transferring old crop marketings to the new marketing year). Generally, as U.S. prices weaken, export sales (“quantity demanded”) fluctuate higher. The week ending October 1 showed net sales of 165,100 running bales of U.S. upland cotton, which is both a weak level and a shrinkage, week over week.
