Cotton futures are trading with contracts up 32 points in nearby May and other contracts down 2 to 10 points. The US dollar index is $1.042 lower at $98.640. Crude oil is down $18.37 at midday following a 2-week ceasefire between Iran and the US that includes the reopening of the Strait of Hormuz. Traffic through the strait has thus far been limited.
The Seam showed 4,433 bales sold on April 7 at an average of 70.76 cents/lb. The Cotlook A Index was 105 points higher Tuesday at 82.55 cents. ICE certified cotton stocks were unchanged on 4/7, with the certified stocks level at 128,213 bales. The Adjusted World Price was raised by 252 points last Thursday to 56.99 cents/lb.
