DTN Closing Cotton            12/10 13:44

   Cotton Stays Up

   Despite the surrounding trading chaos in other markets, the cotton market 
managed to settle higher today, albeit with a tiny gain.

Keith Brown
DTN Contributing Cotton Analyst

   Despite the surrounding trading chaos in other markets, the cotton market 
managed to settle higher today, albeit with a tiny gain. Traders are now 
looking toward fresh export sales data as well as the continuing information 
output from the CFTC.

   As expected, the Federal Reserve did lower interest rates by one-quarter. 
That makes its Fed Funds rate at 3.50%, but also there were "hawkish comments" 
concerning inflation, implying less reductions in the future. To that end, some 
analysts suggest that President Trump could announce his choice for the new Fed 
Chair by Christmas. The current chair, Jerome Powell's appointment expires next 
May.

   Thursday at 8:30 a.m. EST, USDA will release another catch-up export sales 
report, covering the period from Nov. 13. Monday's back-logged report (Nov. 6) 
had net sales for both crop seasons totaling 388,900 bales, with weekly 
shipments of 136,000 bales.

   In an effort to provide a more rapid response, the CFTC is planning on 
releasing a certain back-logged Commitment of Traders reports on Thursday, 
Friday and Monday. Supposedly there is a push underway to have all delayed data 
out by the last week in December.

   For Wednesday, March 2026 went out at 64.12 cents, plus 26 points; July was 
66.16 cents, up 25 points; and December 2026 halted at 67.68 cents, 15 points 
higher. December's estimated volume was 30,453 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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