Cotton prices saw an increase on Tuesday morning, up 14 to 18 points, following a strong performance on Monday where futures gained 50 to 55 points across front months. As of January 1, NASS reported 11.962 million running bales (RB) of cotton ginned, down 1.023 million RB from last year. The USDA noted cotton harvested acres rose by 430,000, but yields decreased by 73 lbs/acre to 856 lbs, reducing total production by 0.35 million bales to 13.92 million, with ending stocks down 300,000 bales to 4.2 million.
The Friday auction from The Seam recorded cotton sales at 56.57 cents/lb for 4,773 bales, while the Cotlook A Index fell 35 points to 74.45 cents on January 9. Currently, certified ICE cotton stocks remain steady at 11,510 bales, and the Adjusted World Price has been updated to 50.97 cents/lb, an increase of 21 points from the previous week. In trading on Monday, March 26 cotton closed at 64.91 cents (up 50 points), May 26 at 66.44 cents (up 53 points), and July 26 at 67.86 cents (up 55 points).
