DTN Closing Cotton            11/11 13:31

   Cotton Paces the Rear

   While most commodity markets were trading with a positive slant, the cotton 
market was dragging the rear, slightly negative. 

Keith Brown
DTN Contributing Cotton Analyst

   While most commodity markets were trading with a positive slant, the cotton 
market was dragging the rear, slightly negative. News that the government 
shutdown was bearing an end was a general encouragement for most cotton 
traders, however, some were fearing this week's WASDE update.

   USDA will release an updated supply-demand tables this Friday at noon EST. 
The last published WASDE (prior to the shutdown), the agency had increased the 
U.S. 2025 cotton crop to 13.22 million versus the previous 13.21 million bales. 
Also, the exports could be lowered as prior to the shutdown, U.S. net-sales 
were behind the pace needed to hit USDA's seasonal goal. We also note that 
Vietnam, Pakistan and Mexico are the leading buyers this year, with China in 
12th place.

   December cotton will enter its delivery on Nov. 21. Thus, all traders, 
except those intending to participate in the notice process, will have to 
liquidate or roll forward in time.

   The U.S. dollar was weaker today, amid concerns of a deteriorating American 
labor market. The private ADP data showed that private employers cut jobs last 
month. That news comes as the federal government moves closer to reopening, 
which will unleash a flood of economic data and may likely show a slowing 
economy.

   For Tuesday, December 2025 ended at 63.88 cents, off 43 points, while March 
2026 closed at 65.38 cents, minus 39 points. Tuesday's estimated volume was 
106,908 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com




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