Cotton price action is up 3 to 6 cents so far on Friday morning. Futures closed the Thursday session with contracts down 22 to 28 points. Crude oil futures were down $2.74 per barrel at $59.28. The US dollar index was down $0.248 at $98.155. The markets will be off on Monday for the Martin Luther King Jr. Day holiday. They will open back up on Monday evening.
Export Sales data showed a total of 339,724 RB of upland cotton sold in the week ending on January 8. That was a marketing year high and more than triple the previous week. Vietnam was the top buyer of 127,400 RB, with 57,200 RB sold to China. Shipments were tallied at 156,104 RB in that week, an 11-week high. The top destination was Vietnam at 56,200 RB, with 24,900 RB to Pakistan.
