Cotlook Index: 02-11-2026
89.55 (-0.65)
ICE cotton futures fall amid US harvest pressure, weaker crude oil
Tuesday, 3rd Nov. 2026, (Source: www.fibre2fashion.com)
Insights: ICE cotton futures fell on Monday as faster US harvesting boosted supplies, while cheaper crude oil could boost polyester's edge against cotton. The December 2026 contract fell 0.22 per cent to 77.66 cents per pound; US Department of Agriculture data showed 63 per cent of the crop harvested by November 1. A smaller crop outlook and weaker dollar offered limited support, leaving sentiment mixed.
ICE cotton futures settled lower on Monday as continued harvesting pressure weighed on prices despite expectations of a smaller US cotton crop and a weaker dollar. A sharp decline in international crude oil prices also dampened sentiment, as cheaper energy could improve the competitiveness of polyester against cotton. The most active December 2026 cotton contract settled at 77.66 cents per pound (0.453 kg), down 0.17 cent, or 0.22 per cent, in Monday’s trading session. The December 2026 contract remained under pressure as the ongoing harvest increased near-term supplies. However, concerns over lower production provided some support to the market. Market participants continued to assess the impact of the ongoing US cotton harvest against expectations of tighter supplies in the coming months. A market analyst said the harvest was entering its second month and more market participants were beginning to believe that the US cotton crop would be smaller than previously anticipated. The market remained caught in a “tug of war” between harvest-related selling pressure and expectations of reduced future supplies. The peak harvesting period typically weighs on cotton futures as freshly harvested cotton increases immediate market availability. The latest US Department of Agriculture (USDA) Crop Progress report showed that 63 per cent of the US cotton crop had been harvested as of November 1, compared with 52 per cent in the previous week. Harvest progress was also nine percentage points ahead of the five-year average of 54 per cent, indicating a faster-than-normal pace of field operations. Meanwhile, cotton bolls had opened on 92 per cent of the planted area, compared with 89 per cent a week earlier. However, the figure remained below the five-year average of 95 per cent. The US dollar weakened on Monday amid a sharp decline in crude oil prices and softer US Treasury yields. A weaker dollar generally makes US cotton more affordable for overseas buyers, potentially supporting export demand. Financial markets were also monitoring several important developments scheduled during the week, including the US mid-term elections, labour market data releases and interest rate decisions by several central banks. These developments could influence currency movements and broader commodity market sentiment.
International crude oil prices declined by more than 7 per cent on Monday amid reports of discussions involving Iranian and Qatari officials, which raised hopes of a possible end to the conflict involving Iran and improved stability in Middle Eastern oil supplies. The sharp fall in crude oil prices remained an important concern for cotton traders because petroleum-derived raw materials influence polyester production costs. Lower crude oil prices could eventually reduce synthetic fibre production costs, potentially strengthening polyester’s price competitiveness against natural cotton. Meanwhile, Chicago wheat futures increased on Monday after falling to nearly a four-month low during the previous week. Continued attacks involving Russia and Ukraine weakened expectations of a fresh agreement concerning Russian wheat exports through the Black Sea. Cotton market sentiment remained mixed. Expectations of lower US cotton production, a weaker dollar and potential export competitiveness provided support. However, accelerated harvesting, increased availability of newly harvested cotton and the sharp decline in crude oil prices restricted upward momentum.
From a technical perspective, the December 2026 cotton contract faced immediate support at 77.05 cents per pound, the low recorded on October 2. A further decline could bring the July 2 low of 76.87 cents into focus. The contract’s latest settlement remained 0.61 cent above the first support level. Traders will closely monitor the pace of the US harvest, movements in the dollar and crude oil prices, and developments in US cotton production expectations.
This morning (Indian Standard Time), December 2026 cotton traded at 76.89 cents per pound (down 0.77 cent). Cash cotton traded at 75.41 cents per pound (down 0.17 cent), while the March 2027 contract traded at 80.75 cents per pound (down 0.74 cent). The May 2027 contract traded at 82.42 cents per pound (down 0.71 cent), the July 2027 contract at 82.94 cents per pound (down 0.70 cent), and the October 2027 contract at 77.76 cents per pound (unchanged). A few contracts remained at their previous closing levels, with no trading recorded so far today.
India & EU discuss trade facilitation in Brussels
Tuesday, 3rd Nov. 2026, (Source: www.fibre2fashion.com
Insights: India and the EU discussed market access, trade facilitation, customs cooperation and FTA implementation during Indian Commerce Secretary Rajesh Agrawal's visit to Brussels. Talks also covered supply-chain resilience and development cooperation. At a BusinessEurope roundtable, Agrawal highlighted India's investment opportunities and urged European firms to deepen their engagement.
India and the European Union (EU) have discussed trade facilitation, market access, customs cooperation, supply-chain resilience and preparations for the implementation of the India–EU free trade agreement (FTA) during high-level meetings in Brussels led by Indian Commerce Secretary Rajesh Agrawal, the Ministry of Commerce & Industry said. Agrawal met Ditte Juul Jorgensen, director-general of the Directorate-General for Trade and Economic Security (DG TRADE); Koen Doens, director-general of the Directorate-General for International Partnerships (DG INTPA); and Gerassimos Thomas, director-general of the Directorate-General for Taxation and Customs Union (DG TAXUD), European Commission. The meetings focused on strengthening the comprehensive economic and strategic partnership between India and the EU. In the meeting with Jorgensen, both sides discussed measures to facilitate two-way trade, improve market access, strengthen supply-chain resilience and create new opportunities for businesses in India and the EU. They reaffirmed their commitment to a fair, balanced and mutually beneficial agreement and agreed to maintain close engagement on the remaining procedural and implementation-related issues, according to the ministry's press release. Talks with Doens covered India–EU development cooperation and strategic partnerships, including sustainable development, clean energy, green technologies and related areas. The meeting with Thomas focused on customs cooperation, trade facilitation and preparations for India–EU FTA implementation, with both sides recognising the role of efficient, transparent and digitally enabled customs procedures in supporting businesses, reducing transaction costs and ensuring the smooth movement of legitimate trade, the ministry said. The Commerce Secretary participated in a BusinessEurope roundtable with European industry representatives to discuss strengthening trade and investment ties, improving market access, enhancing supply-chain resilience and advancing cooperation under the India–EU FTA. He highlighted India’s economic growth, reform momentum and investment opportunities across key sectors, and invited European businesses to deepen their engagement with India and participate in its expanding value chains. The engagements reflected the growing breadth of India–EU cooperation across trade, investment, development partnership, taxation and customs, and reaffirmed the shared commitment of both sides to further strengthen their strategic partnership, the ministry added.
Gujarat: Ranpur Yard Receives Over 5,000 Maunds of Cotton in a Day, Prices Touch ₹1,901
Tuesday, 3rd Nov. 2026, by Yash Chouhan, (Source: www.smartinfoindia.com)
Gujarat: Over 5,000 maunds of cotton arrive at Ranpur yard in a single day; prices reach up to ₹1,901 per maund
Botad: The Ranpur Marketing Yard in Gujarat’s Botad district is witnessing a surge in cotton arrivals during the current season. Yesterday, more than 5,000 maunds of cotton arrived at the yard in a single day. During the auction, cotton prices ranged from ₹1,840 to ₹1,901 per maund. As purchases were based on quality, farmers received good prices. Ranpur taluka is an agrarian region where most farmers cultivate cotton. During the cotton season, large quantities of produce from surrounding villages arrive at the Ranpur Marketing Yard for sale. The increase in cotton arrivals this season has led to a boost in trading activity. During the auction, traders purchased cotton based on its quality. Since high-quality cotton fetched better prices, farmers were able to secure fair value for their produce. With the rising volume of cotton arrivals, farmers remain optimistic about continuing to receive good prices in the market. Kishorbhai Dhandhal, Chairman of the Ranpur Marketing Yard, stated that a large number of farmers are arriving at the yard this season to sell their cotton. Necessary arrangements have been made at the yard to ensure convenience for the farmers and to keep the sales process smooth, ensuring that they face no difficulties in selling their produce and receive a fair price. He noted that over 5,000 maunds of cotton arrived at the yard yesterday alone. Cotton arrivals are expected to increase further in the coming days. As the season progresses, trading activity—both buying and selling—is expected to remain robust at the Ranpur Marketing Yard
Techtextil and Texprocess 2028 strengthen textile value-chain links
Tuesday, 3rd Nov. 2026, (Source: www.fibre2fashion.com)
Insights: Techtextil and Texprocess will return to Frankfurt on 4–7 April 2028 with an optimised hall layout linking materials, production technologies and processing.Leading exhibitors have already registered, including Lenzing, Toray Textiles Europe, Kornit and Veit. The concurrent fairs aim to strengthen value-chain collaboration, with early-booking rates available until 30 November 2026.
Techtextil and Texprocess 2028 bring relevant market players even closer together. The focus is on the interfaces between materials, technology and processing – where innovations, new applications and business contacts emerge. The optimised hall layout supports this networking across the exhibition grounds, with short distances and an efficient route along the various stages of textile production and processing. Companies can register at early-booking rates until the end of November. The first renowned exhibitors have already registered. Volatile markets, cost pressures and changing supply chains are challenging the global textile industry. At the same time, material innovations and new technologies such as AI are opening up additional applications and business opportunities. Collaboration along the value chain is essential. Techtextil and Texprocess bring together relevant market players in Frankfurt from 4 to 7 April 2028 who are shaping this transformation – from research and technology providers to manufacturers and processors as well as users from a wide range of industries. A major benefit lies in running the two leading trade fairs concurrently: together, they cover key production and processing stages at a single location, giving exhibitors access to new partners and fields of application beyond their own markets. Visitor behaviour also shows how closely the potential of the two events is intertwined: in 2026, 87 percent of Texprocess trade visitors also attended Techtextil. Conversely, 68 percent took advantage of what Texprocess had to offer. Around 80 percent of exhibitors achieved their trade fair objectives.
First leading industry players commit to 2028
Right from the start of the registration phase, renowned exhibitors are already committing to Techtextil and Texprocess 2028: Angles Textil / Antex, Beaulieu Fibres International, CHT, Dilo Systems, Getzner Textil, Huvis Corporation, Lenzing, Sioen Industries and Toray Textiles Europe are among the first international market leaders to register for Techtextil. Established industry players such as Kornit, Veit and ZSK Stickmaschinen have also confirmed their participation in Texprocess. Further companies can register without obligation at early-booking rates until 30 November 2026.
Textile round trip from material innovation to processing
In 2028, Techtextil and Texprocess link complementary product areas and processes even more effectively. Spanning five hall levels, the route across the western exhibition grounds follows the textile value chain: it starts with Techtextil’s production technologies in Hall 8.0. From there, the tour leads to fibres and yarns in Hall 12.0, through technical textiles and nonwovens in Halls 12.0 and 12.1, and on to coated textiles and composites in Hall 11.0. Nearby, Hall 9.0 brings together textile auxiliaries and chemicals for the various production stages, as well as Performance Apparel Textiles close to the relevant finishing processes. The route comes full circle in Hall 8.0, where Techtextil’s production technologies meet Texprocess’ technologies for processing textile and flexible materials. This spatial integration creates direct connections between materials, technologies and processing. Exhibitors benefit from close proximity to relevant suppliers, partners and potential new customers. Trade visitors can find suitable companies more quickly and explore interconnected production stages and solutions in their direct context.
Secure early-booking rates by 30 November:
Techtextil 2028 registration: Intention to exhibit Techtextil
Texprocess 2028 registration: Intention to exhibit Texprocess
Production Declines Across Major Suppliers
The decline in global production reflects reduced crop prospects in several major cotton-producing countries. China's production is projected to fall by approximately 4%, from 7.5 million tonnes to 7.2 million tonnes, while Brazil's output is expected to decline by about 2%, from 4.25 million tonnes to 4.10 million tonnes. Production in Pakistan is also forecast to fall by approximately 17%, while the United States is expected to record a decline of about 4%. India's production is projected to remain stable at 5.3 million tonnes, while West African output is expected to increase modestly to approximately 954,000 tonnes. The outlook remains subject to weather-related risks, particularly in India and West Africa, where irregular rainfall, drought, excessive moisture, and pest pressure could affect yields and lead to further revisions as the season progresses.
Asian Textile Industries Support Global Cotton Demand
Despite the weaker production outlook, global cotton consumption is expected to remain resilient, supported primarily by textile manufacturing activity across Asia. China remains the world's largest cotton consumer, with projected consumption of approximately 8.53 million tonnes in 2026/27. India follows at 5.9 million tonnes, essentially unchanged from the previous season and among the country's highest recorded consumption levels. Several other Asian markets are showing signs of stronger demand:
Pakistan: Cotton consumption is projected to increase by approximately 5% to 2.1million tonnes. Following nearly five consecutive seasons of declining consumption, the increase could signal the early stages of a recovery in the country's textile industry.
Vietnam: Consumption is projected at approximately 1.77 million tonnes, with the potential to approach 1.8 million tonnes as the season progresses. Strong yarn exports, particularly to China, and high spinning mill utilization are supporting demand. Because Vietnam relies heavily on imported cotton, additional consumption growth could translate into increased import requirements.
Türkiye: Cotton consumption is projected to rise from 1.4 million tonnes to 1.5 million tonnes
Together, these developments highlight the importance of Asian textile manufacturing to the global cotton market, particularly as consumption is expected to exceed production in the coming season.
Global Cotton Trade Expected to Ease
World cotton exports are projected to decline by approximately 1.7%, from 9.92 million tonnes in 2025/26 to 9.75 million tonnes in 2026/27.
Brazil is expected to remain the world's largest cotton exporter, with shipments projected at 3.15 million tonnes, followed by the United States at 2.71 million tonnes and Australia at 1.02 million tonnes.
The projected decline in global exports comes despite relatively stable consumption, reflecting differences in domestic supply, purchasing requirements, and trade patterns among major cotton-producing and consuming countries.
2026/27 Global Cotton Outlook
ICAC's November estimates project:
ICAC's Price Projections
The ICAC Secretariat forecasts the 2026/27 Cotlook A Index to range between 73 and 106 cents per pound, with a midpoint of 87 cents per pound. Price projections are prepared by Lorena Ruiz, ICAC Economist.
The author of Cotton This Month is Parkhi Vats, Principal Statistician & Data Architect at ICAC.
