On November 6th, the cotton market opened lower, with the overall environment of the peripheral financial market being bearish. The US Supreme Court is holding a hearing on the Trump administration’s reciprocal tariffs and may ultimately rule them illegal. Additionally, the Democratic Party’s victory in this week’s elections may prompt the Democrats to further pressure the Trump administration, maintaining the government shutdown. These circumstances have led most market participants to withdraw and wait and see.
The U.S. Department of Agriculture announced that it will release the crop report on November 14, even if the government shutdown continues. This report will be based on field investigations and will update the production data of corn and soybeans in the United States for the first time since September 12, when most of the Midwest had not yet started harvesting. Due to the government shutdown, the originally scheduled October crop report was not released on time. A year ago, the U.S. Department of Agriculture surveyed approximately 5,840 farmers to provide data support for the November crop production report.
On that day, ICE cotton futures closed lower. The overall sell-off in the external markets put pressure on the market, with the Dow Jones, Chicago Grains, Livestock and Precious Metals all falling across the board. The concerns arising from the ongoing tariff challenge by the US Supreme Court were the main concerns.
The December cotton futures will start to be delivered on November 21st. Therefore, all traders must close their positions or extend them in time. On Friday, the December contract options will arrive at the ICE futures close, which will affect the total position of the market.
Regarding the weather, the overall conditions for the new cotton harvest in the United States are favorable. In some areas, the progress is slightly slower, but the limited rainfall in the next ten days will be very beneficial for field operations. The harvest progress is expected to remain optimistic and will at least continue until November 20th.
Technically, the cotton market is slightly favored by the bulls in the short term. However, for the price to continue to rise, new momentum needs to be obtained as soon as possible. The upward target for the December contract is to break through the resistance level of 67 cents, while the bearish target is to fall below the support level of 63.50 cents.
HEALTHSMILE MEDICAL will assign dedicated personnel to continuously and closely monitor the changes in the cotton market, in order to prepare for the procurement of high-quality cotton materials. This task is of great significance as it will directly affect our product quality, supply prices, and the interests of our customers. It is also the foundation for us to gain the trust of our clients.
Post time: Nov-10-2025