The most actively traded May cotton contract eased 0.26 cent to settle at 64.04 cents per pound. The March 2026 contract settled at 61.66 cents per pound, up 40 points. Other contracts ranged between 21 points higher and 8 points lower. Price movement remained narrow, with a maximum spread of 63 points across contracts.
ICE cotton futures ended marginally higher on short covering and rollover from March to May contracts, though gains were limited by a softer USDA WASDE outlook projecting higher global production and stocks with lower demand.
Trading volumes remained elevated, signalling structurally higher participation.
The market now awaits fresh US export sales data for clearer direction.
Trading volume stood at 118,556 contracts, the ninth-highest daily volume ever for cotton. The market noted cleared volume of 131,395 contracts.
Cotton has now traded above 100,000 contracts 26 times historically; 16 of the top 19 volume days have occurred since Feb 11, 2025, indicating structurally higher activity.
The market highlighted profit-taking by shorts and a significant shift of short positions from March into May after March hit a contract low of 60.90 cents on Feb 6.
The United States Department of Agriculture’s monthly report capped gains by raising global production and ending stocks while cutting demand.
ICE deliverable No. 2 inventory continued to rise, reaching 99,096 bales on Feb 10, up from 95,158 bales a day earlier. The market now awaits USDA export sales data for the week ending Feb 5.
This morning (Indian Standard Time), ICE cotton for May 2026 traded at 64.35 cents per pound (up 0.31 cent), cash cotton at 59.99 cents (up 0.40 cent), the March 2026 contract at 62.39 cents (up 0.40 cent), the July 2026 contract at 66.05 cents (up 0.36 cent), the October 2026 contract at 67.56 cents (up 0.15 cent), and the December 2026 contract at 68.40 cents (up 0.20 cent). A few contracts remained at their previous closing levels, with no trading recorded so far today.
Fibre2Fashion News Desk (KUL)
