Cotton's on a roll this week—prices jumping 30-42 points as futures hit marginal gains of 9-16 points on Monday. Here's what's moving the needle: Crude oil sitting at $58.89/barrel (up 83 cents), dollar index hovering at $100.135. The real plot twist? NASS dropped their final crop report yesterday showing US cotton at 79% complete, trailing that 80% average pace—could be tightening supply here. The Seam's 11/20 auction moved 4,368 bales averaging 60.77 cents/lb. ICE certified stocks steady at 20,344 bales, while the Adjusted World Price took a 103-point hit to 50.80 cents/lb—that's the baseline through Thursday. Futures action: Dec 25 cotton closed +9 points at 61.44; Mar 26 +15 points to 64; May 26 +16 points at 65.23. All three contracts nursing gains into the session. Cotlook A Index sitting flat at 74.00 cents. Worth watching if supply concerns start pricing in.
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Cotton's on a roll this week—prices jumping 30-42 points as futures hit marginal gains of 9-16 points on Monday. Here's what's moving the needle: Crude oil sitting at $58.89/barrel (up 83 cents), dollar index hovering at $100.135. The real plot twist? NASS dropped their final crop report yesterday showing US cotton at 79% complete, trailing that 80% average pace—could be tightening supply here. The Seam's 11/20 auction moved 4,368 bales averaging 60.77 cents/lb. ICE certified stocks steady at 20,344 bales, while the Adjusted World Price took a 103-point hit to 50.80 cents/lb—that's the baseline through Thursday. Futures action: Dec 25 cotton closed +9 points at 61.44; Mar 26 +15 points to 64; May 26 +16 points at 65.23. All three contracts nursing gains into the session. Cotlook A Index sitting flat at 74.00 cents. Worth watching if supply concerns start pricing in.