Cotton prices up 50-60 points on Monday, following a steady to lower close on Friday. Crude oil futures rise $1.02 per barrel to $58.78, while the US dollar index is up $0.212 at $98.900. Commitment of Traders data shows 1,306 contracts cut from managed money net short position, bringing it to 47,772 contracts.

Online auction shows sales of 61.10 cents/lb on 10,864 bales. Cotlook A Index down 25 points at 74.80 cents, ICE certified cotton stocks steady at 11,510 bales. Adjusted World Price updated to 50.97 cents/lb, up 21 points. March cotton closes at 64.41, down 5 points but currently up 56 points.

May cotton closes at 65.91, down 2 points but currently up 51 points. July cotton closes at 67.31, unchanged but currently up 50 points. No positions held by Austin Schroeder in mentioned securities. Information for informational purposes only. Source: Barchart.com.

Read more at Yahoo Finance: Cotton Trading with Monday AM Gains