ICE cotton futures closed higher on June 23, 2025, supported by dry weather conditions across major U.S. cotton-growing regions. The December 2025 contract settled at 67.41 cents per pound, up 0.71 cent, while the July 2025 contract slightly dipped by 0.08 cent to 63.96 cents. Other contracts showed gains ranging between 61 to 74 points, signaling overall positive momentum in the cotton market.
Despite a significant drop in crude oil prices on the same day, cotton prices held firm. The crude oil market was initially supported by escalating geopolitical tensions following Iran’s missile attack on a U.S. military base. However, the Strait of Hormuz, a vital shipping route for crude oil and gas, remained open, easing immediate concerns about supply disruptions. This geopolitical backdrop created mixed signals for commodities but ultimately did not weaken cotton prices.
Dry and hot weather conditions in the U.S. continue to stress cotton crops, supporting higher cotton futures. Additionally, Brazil’s cotton exports have declined in recent months, further tightening the global supply outlook. This reduction in exports is contributing to the bullish sentiment in the cotton market.
Trading activity on the Intercontinental Exchange (ICE) showed a total volume of 45,611 contracts. The cleared contracts as of June 20 stood at 60,236, while ICE inventory levels remained steady at 62,332 bales. Market analysts attribute the resilience of cotton prices to a complex mix of weather challenges, geopolitical tensions, and supply-demand dynamics.
