By Keith Brown, DTN Contributing Cotton Analyst 

Cotton was lower Monday as it was undermined by outside markets. Fears of COVID-19 and a strong jobs data on Friday resulted in the U.S. dollar bucking higher, while energies and precious metals collapsed.

Monday afternoon, USDA will post its crop condition data. At last count, the tabulators have the nation’s cotton crop rated at 60% good to excellent. Yet, as we have conversed across the country, many producers indicate they are not seeing it.

Later this week, the market may receive a jolt of consequence, that is bullish or bearish, as USDA will release its weekly export sales, quickly followed by its monthly supply-demand update.

The U.S. dollar was higher Monday, building on its gains of Friday; the day also saw a super-positive employment number of some 950,000 jobs. That increase has stirred the street chatter that the Fed may begin its tapering process (raising rates) sooner rather than later.

Monday, December settled 90.90 cents, down 0.80 cent, March ended at 90.54 cents, down 0.79 cent and December 2022 ended at 81.84 cents, 0.41 cent lower; estimated volume was 20,009 contracts.