Cotton futures are back to higher trade on Tuesday, with contracts up 40 to 45 points at midday. Crude oil futures are 15 cents per barrel higher at $58.16. The US dollar index was back down $0.194 to $97.760.
The Tuesday Export Sales catch up release showed 304,689 RB of cotton sold in the week of December 11, a marketing year high and the largest since February. Shipments improved to 134,371 RB, a 5-week high.
The 12/19 online auction from The Seam showed sales of 12,794 bales at an average price of 59.15 cents/lb. The Cotlook A Index was up 40 points on December 22 at 73.70 cents. ICE certified cotton stocks were down 796 bales via decertification on Friday with the certified stocks level at 11,600 bales. The Adjusted World Price was updated last Thursday to 49.99 cents/lb, a 40 point drop from the previous week.
Mar 26 Cotton is at 64.01, up 40 points,
May 26 Cotton is at 65.18, up 40 points,
Jul 26 Cotton is at 66.27, up 42 points
