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08.04.202615:29:22UTC+00Cotton Futures at 2024-Highs

Cotton futures climbed toward 72 cents per pound, their highest level since October 2024, driven by supply concerns in key US growing regions and a weaker dollar that enhanced the competitiveness of US exports. Persistent dry conditions across the western and southwestern Great Plains continue to pose a significant threat to the upcoming crop, even as farmers plan a larger-than-expected cotton acreage.

At the same time, Brazil’s Secex trade data showed a strong jump in March cotton exports, which rose 45% year-on-year to 347,822.83 tons, up from roughly 239,000 tons in the same month last year.

Upside momentum in prices was limited, however, as easing geopolitical risks pushed crude oil prices lower, cutting polyester production costs and diminishing cotton’s attractiveness as a substitute fiber.

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