Cotton futures are ignoring the larger projected stocks from the USDA today, with contracts holding onto gains of 58 to 77 points on Tuesday. The outside markets are supportive factors, as crude oil futures are up 97 cents/barrel. The US dollar index is back down $0.298 on the day.

Cotton Ginnings data from NASS indicated 406,750 RB ginned during the last 2 weeks of January, taking the marketing year to date total to 13.962 million RB. That was 19.67% above the same period last year. The monthly WASDE update from USDA showed an increase of 100,000 bales to the ending stocks total by way of a 100,000 bale reduction to domestic use. That took the carry out projection to 4.9 million bales.  World cotton stocks were up 500,000 bales to 78.41 million bales. 

ICE cotton stocks were steady on February 10, at 218 bales of certified stocks. The Seam reported 15,545 bales of online sales on Monday at an average price of 62.06 cents/lb. The Cotlook A Index was back down 35 points on 2/10 at 77.05 cents/lb. The USDA Adjusted World Price (AWP) was back down 84 points last Thursday to 53.18 cents/lb. It will be updated again on Thursday.

Mar 25 Cotton  is at 67.31, up 77 points,

May 25 Cotton  is at 68.36, up 65 points,

Jul 25 Cotton  is at 69.38, up 58 points