Cotton futures closed out the Monday session with contracts 35 to 50 points lower, as front month March was up 53 points. Crude oil futures were down 19 cents per barrel on the day at $66.29. The US dollar index was down $0.064 at $97.665.
On Friday, the US Supreme Court ruled the President cannot use the IEEPA for tariff purposes. President Trump later responded by indicating he will issue a 10% blanket tariff, which would expire after 150 days, before raising that to 15% over the weekend.
The Seam showed sales of 19,948 bales sold on 2/20, averaging 59.53 cents/lb. The Cotlook A Index was up 45 points on Friday at 74.15 cents. ICE certified cotton stocks were steady on February 19, with the certified stocks level at 119,457 bales. The Adjusted World Price was up 66 points on Thursday afternoon to 50.05 cents/lb.
Mar 26 Cotton closed at 63.56, up 53 points,
May 26 Cotton closed at 65.14, down 49 points,
Jul 26 Cotton closed at 66.82, down 36 points
