DTN Closing Cotton            12/22 13:37

   Cotton Ends Lower

   After three consecutive higher closing sessions, the cotton market sputtered 
and finished lower today. 

Keith Brown
DTN Contributing Cotton Analyst

   After three consecutive higher closing sessions, the cotton market sputtered 
and finished lower today. Moreover, the market was down in the face of better 
exports and a weaker U.S. dollar.

   Monday morning, USDA issued another catch-up export sales report. Monday's 
release showed for the week ending Dec. 4, net sales of 153,266 bales for the 
current marketing year and net sales of 340 bales for 2026/27. The combined 
seasonal total of 153,606 bales. This was up from 140,374 the previous week and 
the highest since Nov. 13. Cumulative sales for 2025/26 have reached 5.888 
million bales, down from 6.869 million bales at this time last year and below 
the five-year average of 8.70 million. Sales have reached 52% of USDA's 
forecast versus a five-year average of 70% for this point in the marketing 
year. Shipments totaled 101,577 bales, down from 122,094 bales the previous 
week -- the lowest for the marketing year and the lowest since October 2024. 
Vietnam was the largest buyer this week with 70,866 bales. China was a noted 
buyer of 15,514 bales.

   For the Christmas holiday, the market will close early on Christmas Eve, 
then all of Christmas Day, and have a shortened session on Friday. In addition, 
President Trump has ordered that all executive departments and agencies of the 
U.S. federal government will be closed on Wednesday, Dec. 24, 2025, and Friday, 
Dec. 26, 2025. Consequently, USDA will be closed on Dec. 24, 25, and 26, and of 
course, the weekend.

   Crude oil was higher today amid the hardline approach the U.S. is taking 
toward Venezuela. The Trump administration has been seizing Venezuelan tankers 
that it says are carrying restricted Iranian oil. Additionally, Israel has said 
she may strike Iran over renewed nuclear rebuilding programs.

   For Monday, March 2026 went out at 63.61 cents, off 14 points; July was 
65.85 cents, down 1 point; and December 2026 closed at 67.20 cents, minus 10 
points. Monday's estimated volume was 33,902 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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