Cotton Resumes Selling on Tuesday Morning

Price Movement - Cotton prices decreased by 17 to 36 points on Tuesday morning, following a loss of 15 to 20 points on Friday, although March futures gained 105 points over the week [1] - Crude oil futures fell by 3 cents per barrel to $62.81, while the US dollar index decreased by $0.067 to $96.770 [1] Export Commitments - USDA's Export Sales data reported 8.034 million running bales (RB) of cotton export commitments, which is 12% lower than the previous year and represents 71% of USDA's revised export projection, down from an 88% average pace [1] Market Positioning - CFTC data indicated an increase of 3,856 contracts in the spec net short position for the week ending on February 10, with managed money holding a net short position of 75,602 contracts as of Tuesday [2] Sales and Pricing - The Seam reported sales of 15,617 bales on February 12, averaging 57.90 cents per pound, while the Cotlook A Index rose by 25 points to 73.55 cents [3] - ICE certified cotton stocks increased by 3,808 bales to a total of 106,040 bales, and the Adjusted World Price was reduced to 49.39 cents per pound, down 39 points from the previous week [3] Futures Closing Prices - March 26 Cotton closed at 62.11 cents, down 18 points; May 26 Cotton closed at 64.13 cents, down 20 points; July 26 Cotton closed at 65.82 cents, down 16 points [3]