Cotton futures are rallying back on Tuesday with contracts up 65 to 76 points at midday, getting some outside market help. Crude oil futures are up $1.52 per barrel at midday at $62.14. The US dollar index is down another $0.717 to $96.140.
The Monday online auction from The Seam showed sales of 59.58 cents/lb on 12,326 bales. The Cotlook A Index was steady on January 23 at 74.05 cents. ICE certified cotton stocks were down another 1,317 bales on 1/26 with the certified stocks level at 8,595 bales.The Adjusted World Price was updated to 50.99 cents/lb on last week, down 18 points from the week prior.
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Mar 26 Cottonis at 63.73, up 76 points,
May 26 Cottonis at 65.37, up 69 points,
Jul 26 Cottonis at 66.97, up 67 points
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