The cotton market closed out the Tuesday session with contracts up 40 to 58 points on the day. The outside factors were mixed. Crude oil futures were up $1.09/barrel on the day, with the US dollar index $0.360 higher.
The National Cotton Council released their annual spring cotton planting survey, showing inventions for 9.6 million acres of cotton this year, down 14.5% from last year.
The Cotlook A Index was up another 25 points on February 14 at 78.80 cents/lb. The Seam reported 2,759 bales of online sales on Monday at an average price of 61.20 cents/lb. ICE cotton stocks were steady again on 2/14 at 218 bales of certified stocks. The USDA raised their Adjusted World Price (AWP) by 81 points at 53.99 cents/lb last Thursday afternoon.
Mar 25 Cotton closed at 67.51, up 40 points,
May 25 Cotton closed at 68.82, up 51 points,
Jul 25 Cotton closed at 69.69, up 58 points
