Cotton price action is up 15 to 23 points on Tuesday morning. Futures were mostly steady on Friday, with contracts down 4 to 5 points in the front months, as March was 25 points higher on the week. Crude oil futures were up 11 cents per barrel at $59.30. The US dollar index was up $0.063 at $99.195.
CFTC’s Commitment of Traders report from Friday indicated managed money increasing their net short in cotton futures and options by 2,600 contracts to 50,372 contracts as of last Tuesday.
