By Keith Brown DTN Cotton Correspondent 

The cotton market received an extra bullish boost Monday when White House economic adviser Peter Navarro suggested the U.S.-China trade deal could be signed as early as the first full week in January. Spot March rose nearly 1.7% to settle at 69.56 cents. Earlier in the session, the market hurdled a previous seven month high.

In other news, the U.S. dollar continued to weaken. With global equity markets trading near all-time highs, there was some selling on the dollar with simultaneous buying of the yen and euro. A weaker Dollar is good for U.S. exports as it takes less of another country’s currency to convert into dollars to purchase U.S. goods. Also peripherally helping the cotton market is the super-strong Dow Jones. Since Thanksgivings, the stock market has performed incredibility bullish.

Tuesday the ICE Futures will trade a full session, but will close Wednesday, and then commence the new trading year Thursday. However, because of New Year’s holiday, weekly sales and exports are delayed until Friday.

For Monday, March cotton settled at 69.56 cents, up 0.64 cent, July ended at 71.53 cents, up 0.75 cent and December closed at 70.77 cents, up 0.71 cent. Monday’s estimated volume is 28,556 contracts traded.