Cotton futures posted another rebound session on Wednesday, up 72 to 100 points to close out the day. Crude oil futures were up $1.44/barrel to provide some support, with the US dollar index back up $0.227 on the day.
Tuesday’s online auction from The Seam showed 5,072 bales sold, with an average price of 63.56 cents/lb. The Cotlook A Index was up another 25 points on 3/11 at 77.95 cents/lb. ICE cotton stocks were steady again on Tuesday, March 11, 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. It will be updated again on Thursday.
