Cotton Holding onto Pre-Holiday Gains

Group 1 - Cotton futures have increased by 15 to 25 points as of Wednesday, while crude oil futures rose by 15 cents per barrel to $58.52 [1] - The US dollar index has risen by $0.007 to $97.620 [1] - Cotton export commitments as of the week ending December 11 are at 6.183 million RB, which is 14% lower than last year and represents 54% of the USDA projection, lagging behind the 72% average sale pace [1] Group 2 - The CFTC's updated commitment of Traders report indicates an increase of 180 contracts in the managed money net short position in cotton futures and options, bringing the total net short to 54,833 contracts as of December 16 [2] - The online auction from The Seam on December 23 recorded sales of 24,874 bales at an average price of 59.80 cents per pound [3] - The Cotlook A Index decreased by 20 points to 73.50 cents on December 23, while ICE certified cotton stocks fell by 796 bales to a total of 11,600 bales [3] - The Adjusted World Price was updated to 49.99 cents per pound, reflecting a 40-point drop from the previous week [3] - March 26 cotton is priced at 64.18 cents, up 17 points; May 26 cotton is at 65.45 cents, up 25 points; July 26 cotton is at 66.51 cents, up 24 points [3]