Cotton futures saw a rebound on Tuesday, rising between 71 to 86 points across various front months. Notably, March 26 Cotton closed at 63.83 cents, up 86 points, while May 26 and July 26 closed at 65.45 and 67.01 cents, up 77 and 71 points respectively. Concurrently, crude oil futures increased by $1.96 per barrel to $62.56, and the US dollar index fell by 1.282 to 95.575.
In related market activity, an online auction on Monday recorded cotton sales at 59.58 cents per pound for 12,326 bales. The Cotlook A Index remained steady at 74.05 cents on January 23. Certified cotton stocks decreased by 1,317 bales to a total of 8,595 as of January 26, while the Adjusted World Price was updated to 50.99 cents per pound, down 18 points from the previous week.
