Cotton futures rose by 15 to 51 points across most contracts on March 6, 2023, with March cotton reaching 63.19 cents/lb (up 16 points), May cotton at 64.71 cents/lb (up 51 points), and July cotton at 66.65 cents/lb (up 49 points). The Seam reported sales of 848 bales, averaging 58.05 cents/lb, while the Cotlook A Index decreased by 10 points to 74.65 cents.
As of March 3, the CFTC reported that managed money has increased its net short position in cotton futures and options by 7,569 contracts, bringing the total net position to 72,937 contracts. ICE certified cotton stocks were steady at 128,504 bales, and the Adjusted World Price was adjusted down by 40 points to 51.44 cents/lb.
