Noticed cotton was moving higher again this Friday, up around 15-20 points early in the session. Crude oil pushing up another $5.32 that morning probably helped with the spillover support. Been tracking the USDA export information about cotton and it's interesting - old crop sales for the week ending 2/26 hit 150,362 RB, but that was actually down pretty hard, like 40% from the prior week. New crop added another 54,636 RB on top of that. The real story though was the shipment numbers - 282,155 RB went out, which was almost 50% higher than the week before and marked a marketing year high. Vietnam grabbed 94,600 RB of that, Pakistan took 39,800 RB. So we're seeing some solid export activity despite the slower sales pace. On the price side, March contracts closed Thursday up 87 points at 63.03, May was down 12 at 64.04, and July down 10 at 66. The Adjusted World Price got trimmed 40 points to 51.44 cents/lb. ICE certified stocks stayed flat around 129,302 bales. Dollar index bounced back up and crude was climbing, both factors giving cotton some room to breathe. The Cotlook A Index had pulled back 45 points earlier in the week. Seems like there's enough information about cotton market fundamentals out there to suggest we could see more consolidation or upside depending on how export demand holds up over the next few weeks.