Cotton prices rose 35 to 55 points on Monday after Friday’s losses. March futures were down 211 points last week. Crude oil futures increased by $21 per barrel to $63.50. The US dollar index fell by $0.141 to $97.650.

Spec traders increased their net short position by 6,717 contracts in cotton futures and options, bringing the total to 71,746 contracts net short as of 2/3.

Export Sales data revealed total export commitments at 7.8 million RB as of January 29, a 12% decrease from last year. Commitments are now at 68% of the USDA forecast, lagging behind the 86% average.

The latest Thursday online auction from The Seam saw sales averaging 54 cents/lb on 592 bales. The Cotlook A Index increased by 5 points on February 5 to 73.20 cents. ICE certified cotton stocks rose by 27,344 on 2/5, with certified stocks at 74,997 bales. The Adjusted World Price dropped to 49.78 cents/lb on Thursday, down 42 points.

Closing prices for Mar 26 Cotton were at 61.06, down 70 points but currently up 39 points. May 26 Cotton closed at 63.04, down 46 points, currently up 54 points. Jul 26 Cotton closed at 64.83, down 43 points, currently up 53 points.

Read more at Yahoo Finance: Cotton Bouncing on Monday Morning