– Reporting Period 04 – 17 December 2024 –
Following the upward trend in the last reporting period, the ICE Cotton No. 2 futures have fallen steadily in this reporting period and arrived below the 70 ct/lb mark. Against the backdrop of a bearish December report from the US Department of Agriculture (USDA), there was a downward trend in cotton prices.
Demand remained limited, particularly for long-term deliveries. Not only does the continued strengthening of the US dollar negate price reductions for currency-linked buyers. The uncertainty surrounding the current global market situation and the unpredictable outlook for the coming year have made many market participants flinch from making long-term plans and investments. The textile industry in particular is currently dominated by fears about the future, such as the extent to which recessions and cost allocations will affect consumption, with the result that operational business is more short-term oriented.