Cotton futures closed out the Monday session with contracts up 6 to 49 points across most contracts and may down 7 points. The outside markets are pressure factors, with crude oil futures down $1.13/barrel and the US dollar index back up $0.083 on the day.
Thursday’s online auction from The Seam saw 1,936 bales sold, with an average price of 62.29 cents/lb. The Cotlook A Index was back up 150 points on 3/6 at 76.95 cents/lb. ICE cotton stocks were steady on March 7 with the current level of certified stocks at 14,488 bales. The USDA slashed their Adjusted World Price (AWP) last Thursday afternoon by 201 points to 51.88 cents/lb.
