**Cotton and Crude Oil Market Update – January 22, 2023**
Cotton prices experienced an increase of 6 to 10 points on January 22, with March cotton trading at 63.98 cents per pound, up 10 points, while May and July contracts were at 65.56 and 67.03 cents per pound, respectively. Additionally, crude oil futures rose by $1.79, reaching $61.18 per barrel.
According to USDA Export Sales data, cotton sales reached a marketing year high of 412,457 running bales (RB) for the week ending January 15, while export shipments totaled 187,776 RB, also a record for the year. The Adjusted World Price was updated to 50.99 cents per pound, reflecting a decrease of 18 points from the previous week.
