Cotton Prices Ease Slightly

Cotton futures hovered around 65 cents per pound, easing slightly from the September highs reached earlier in the month, as traders awaited fresh economic data to gauge supply and demand dynamics. The USDA has indefinitely postponed the release of its weekly export sales report amid the ongoing federal government shutdown, which has now entered its second week. The WASDE report for October also risks being delayed. The USDA’s latest crop progress report, published before the shutdown, showed the US cotton harvest 16% complete as of September 28, in line with the five-year average. The market remains supported by expectations of larger crop estimates in China, India, Brazil, and the US. Meanwhile, lower oil prices have made synthetic fiber alternatives more attractive, potentially weighing on cotton demand and prices.