Cotton futures are trading higher on Tuesday, with gains of 30 to 50 points across most contracts. Crude oil futures are also up at $60.32 per barrel, while the US dollar index is at $99.545, an increase of $0.057.

According to Crop Progress data from NASS, the US cotton crop is 71% harvested as of 11/16, slightly behind the 72% average pace. The online auction from The Seam on Monday saw 3,009 bales sold at an average price of 57.27 cents/lb.

ICE certified cotton stocks increased by 1,100 bales on November 17, bringing the certified stocks level to 20,344 bales. The Adjusted World Price was reported at 51.83 cents/lb, effective through Thursday. Dec 25 Cotton is at 62.67, up 31 points, Mar 26 Cotton is at 64.56, up 50 points, May 26 Cotton is at 65.71, up 46 points.

Read more at Yahoo Finance: Cotton Holding Gains on Tuesday