Cotton Back to Steady at Midday

Cotton futures are down 2 to 19 points across most contracts, reflecting mild weakness in the market. Supportive outside factors include crude oil up $2.76 to $90.96/barrel and the US dollar index slightly lower at 99.880, while the Cotlook A Index rebounded 40 points to 85.90 cents on 6/9. The update is mostly market color with limited near-term price impact.

Analysis

Cotton futures are down 2 to 19 points across most contracts, reflecting mild weakness in the market. Supportive outside factors include crude oil up $2.76 to $90.96/barrel and the US dollar index slightly lower at 99.880, while the Cotlook A Index rebounded 40 points to 85.90 cents on 6/9. The update is mostly market color with limited near-term price impact.