Cotton futures saw an increase on Monday, with March futures rising by 59 points to 61.65 cents per pound, while May futures climbed 69 points to 63.73 cents, and July futures increased by 64 points to 65.47 cents. Crude oil futures also rose by $1.28 per barrel to $64.83. In contrast, the US dollar index fell by $0.626 to 96.880.
As of February 3, speculators added 6,717 contracts to their net short position in cotton futures and options, taking the total to 71,746 contracts. Additionally, The Seam reported sales of 3,066 bales on February 6, averaging 58.61 cents per pound, while ICE certified cotton stocks rose by 18,564 bales to a total of 93,561 bales.
In related data, the Cotlook A Index decreased by 40 points to 72.80 cents on Friday, and the Adjusted World Price decreased by 42 points to 49.78 cents per pound on the previous Thursday.
