Cotton futures reported midday gains of 30 to 40 points on Friday, while March cotton fell by 81 points to 63.36 cents/lb. The Seam recorded 6,467 bales sold on February 26, averaging 59.09 cents/lb, as the Cotlook A Index rose 60 points to 76.45 cents. Crude oil futures increased by $1.58 to $66.80 per barrel, and the US dollar index declined by $0.135 to 97.605.
Export sales data from Thursday revealed 8.75 million RB in cotton export commitments, a 9% decrease from last year, representing 78% of the USDA’s full marketing year export projection. ICE certified cotton stocks remained steady at 119,457 bales, with the Adjusted World Price rising by 1.79 cents to 51.84 cents/lb.
