Cotton futures are trading with 38 to 43 points higher at midday. Crude oil is up another $3.25/barrel, following increasing US sanctions on Russian oil companies and reports that Chinese buyers are limiting purchases. The US dollar index is up $0.152 to $98.825.
The Wednesday online auction from The Seam showed 832 bales sold with an average price of 64.10 cents/lb. The Cotlook A Index was back up 25 points on 10/22 at 75.85 cents. ICE certified cotton stocks were steady on October 22, with the certified stocks level at 17,552 bales. The AWP is still not being reported due to the government shutdown.
