Cotton’s Technical Lift Meets Demand Restraint

Summary

ICE March 2026 cotton futures rose modestly to 62.11 cents per pound, driven primarily by short covering and technical repositioning rather than fresh demand. Export sales and mill buying remained cautious, indicating muted underlying demand despite a relatively firm US dollar. Open interest stayed stable, suggesting no significant new capital inflow, and the market is now testing the 60‑cent psychological floor with resistance around 63‑64 cents. Without a demand catalyst, any further rally will depend on positioning dynamics rather than fundamental tightening.