By Keith Brown, DTN Contributing Cotton Analyst 

The cotton market did finish higher Tuesday, versus its weaker close of Monday. The trading was marked by lackluster, wandering bids and offers. However, given the beating it took last week, and the follow-through of Sunday and Monday, the higher closes were welcomed.

The U.S. dollar traded up Tuesday. It is not only awaiting the results of the Federal Reserve’s two-day meeting Wednesday, but is also trying to work off an oversold condition. The latter situation would require a weekly close about the 92.50 points. Beyond that nuance, the overall chart trend for the greenback points indeed lower.

Europe may have to conduct a second complete shutdown. Italy and France will be closed for Easter and Germany may follow suit. About 20% of the U.S. population has had at least one shot, while only 8% of Europe has been inoculated. The European Union was slow to order adequate amounts of vaccines when they were first available.

Tuesday, May cotton closed at 86.92 cents, up 0.20 cent, July settled at 87.91 cents, up 0.15 cent and December ended at 83.65 cents, up 0.10 cent; estimated volume was 19,134 contracts.