Cotton futures are up 15 to 51 points across most contracts. Crude oil is up just $3.97 at midday and nearly $25 from the overnight highs. The US dollar index is back up $0.116 at $99.095.
CFTC reported managed money increasing their net short position in cotton futures and options by 7,569 contracts as of 3/3, taking the net position to 72,937 contracts.
The Seam showed sales of 848 bales on March 6, averaging 58.05 cents/lb. The Cotlook A Index was down 10 points on Tuesday at 74.65 cents. ICE certified cotton stocks were steady on 3/6, with the certified stocks level at 128,504 bales. The Adjusted World Price was trimmed by 40 points on Thursday to 51.44 cents/lb.
Mar 26 Cotton is at 63.19, up 16 points,
May 26 Cotton is at 64.71, up 51 points,
