ICE cotton futures surged after the USDA projected lower 2025–26 US production and year-end stocks, with the December 2025 contract hitting its highest since July 24.
A weaker US dollar boosted overseas buying.
Trading volume more than doubled, reaching a two-month high.
The USDA cut production to 13.21 million bales and stocks to 3.6 million bales, both below market expectations.