Cotton bounced back Tuesday, up 30-42 points as traders digest mixed signals. Dec futures closed at 61.44 (+9), while Mar and May contracts showed stronger moves at +15 and +16 points respectively. Here's what's moving the market:
📊 **The Numbers**: US cotton harvest sits at 79% complete—slightly behind the 80% historical average. Crude oil rallied 83 cents to $58.89, dollar index nudged up to $100.135. ICE certified stocks holding steady at 20,344 bales.
🔍 **On the Auction Block**: The Seam's online sale moved 4,368 bales at 60.77 cents/lb average. Cotlook A Index remains flat at 74.00 cents. Global pricing took a hit though—Adjusted World Price dropped 103 points week-over-week to 50.80 cents/lb.
💭 **What It Means**: Cotton's caught between harvest delays and softer global demand. The slowdown in completion rates could tighten near-term supply, but weak world prices suggest demand weakness remains a headwind. Traders watching crude oil and dollar moves closely—both traditionally impact cotton flows.
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Cotton bounced back Tuesday, up 30-42 points as traders digest mixed signals. Dec futures closed at 61.44 (+9), while Mar and May contracts showed stronger moves at +15 and +16 points respectively. Here's what's moving the market:
📊 **The Numbers**: US cotton harvest sits at 79% complete—slightly behind the 80% historical average. Crude oil rallied 83 cents to $58.89, dollar index nudged up to $100.135. ICE certified stocks holding steady at 20,344 bales.
🔍 **On the Auction Block**: The Seam's online sale moved 4,368 bales at 60.77 cents/lb average. Cotlook A Index remains flat at 74.00 cents. Global pricing took a hit though—Adjusted World Price dropped 103 points week-over-week to 50.80 cents/lb.
💭 **What It Means**: Cotton's caught between harvest delays and softer global demand. The slowdown in completion rates could tighten near-term supply, but weak world prices suggest demand weakness remains a headwind. Traders watching crude oil and dollar moves closely—both traditionally impact cotton flows.