In the latest weekly report released by the United States Department of Agriculture (USDA), it was revealed that net cotton export sales of Upland for the week ending on March 29th to April 4th, 2024, amounted to 81,500 RB (running bales of 226.8 kg or 500 pounds) for the 2023-24 season. This figure represented a 4% decrease from the previous week and a 10% decline from the prior 4-week average. While the decline in US cotton exports was limited during this week, the continued slowdown in export sales is viewed as a negative factor for the market.

According to the weekly export sales report, released on Thursday by the USDA, exports increased primarily for China (50,200 RB, including decreases of 11,000 RB), Pakistan (23,900 RB, including decreases of 2,600 RB), Peru (7,800 RB), Vietnam (5,200 RB, including 1,500 RB switched from Japan and decreases of 4,400 RB), and Nicaragua (2,700 RB). However, these higher exports were offset by reductions for Turkiye (13,900 RB), Indonesia (2,500 RB), and South Korea (400 RB).

Additionally, net sales of 35,700 RB were reported for the next season, 2024-25, with significant figures for Turkiye (24,400 RB), Vietnam (4,400 RB), Indonesia (4,400 RB), Honduras (2,100 RB), and Peru (400 RB). Exports of 274,100 RB were down by 25% from the previous week and 23% from the prior 4-week average. The primary destinations for these exports were China (120,700 RB), Turkiye (39,300 RB), Vietnam (34,700 RB), Pakistan (25,700 RB), and Mexico (11,900 RB).

Furthermore, net sales of Pima cotton totaling 8,000 RB for the 2023-24 season were noticeably up from the previous week and up by 34% from the prior 4-week average. Increases were reported for Pakistan (3,400 RB), China (2,400 RB), and India (2,400 RB, including decreases of 300 RB), while reductions were seen for Bangladesh (200 RB). Exports of 15,900 RB were also up noticeably from the previous week and from the prior 4-week average, with primary destinations including India (6,000 RB), China (5,200 RB), Peru (1,300 RB), Pakistan (1,100 RB), and Costa Rica (900 RB).

These figures depict a mixed scenario for the US cotton export market, with certain destinations showing increases while others experience reductions. The fluctuations in export sales highlight the ongoing challenges and uncertainties faced by the industry, influenced by factors such as global market dynamics, trade policies, and economic conditions.