Cotton prices are 30 to 35 points higher so far on Tuesday morning. Futures fell back 67 to 85 points across most contracts on Monday. Crude oil futures are down 24 cents per barrel at $60.83. The US dollar index was down another $0.539 to $96.865.
USDA Export Sales data showed 7.35 million RB of cotton commitments as of Jan 15, 13% below last year. That was also 64% of the USDA projection and well behind the 81% average pace.
The Friday online auction from The Seam showed sales of 57.99 cents/lb on 5,645 bales. The Cotlook A Index was down 50 points on January 23 at 74.05 cents. ICE certified cotton stocks were down 510 bales on 1/23 with the certified stocks level at 9,912 bales. The Adjusted World Price was updated to 50.99 cents/lb on last week, down 18 points from the week prior.
Mar 26 Cotton closed at 62.97, down 84 points, currently up 33 points
May 26 Cotton closed at 64.68, down 80 points, currently up 31 points
Jul 26 Cotton closed at 66.3, down 67 points, currently up 31 points
