Caught cotton prices holding pretty steady as we rolled into Thursday trading. The price of cotton was barely moving, though futures had gained some ground earlier in the week—up 10 to 15 points on the front months. Crude was helping things along, up about $1.54 to hit $76.10, which usually gives commodities a lift. Meanwhile the dollar index pulled back to $98.775, another tailwind for cotton prices.

Looking at the actual numbers, ICE certified stocks sat at 129,302 bales with no change from March 3rd. The Cotlook A Index had dropped 95 points to 74.95 cents, which caught my attention. Seam sales showed 6,789 bales moving at an average of 62.49 cents per pound. The Adjusted World Price got bumped up by 1.79 cents to 51.84 cents/lb the week prior.

The contract action was interesting—March 26 cotton closed up 12 points at 62.16, May 26 finished at 64.16 (also up 12), and July 26 closed at 66.1 after gaining 15 points. Definitely worth watching how the price of cotton responds as we head into the seasonal strength period. These moves in the commodity complex could signal what's next for cotton prices heading into late spring.