Cotton futures are back up by 36 to 51 points so far this morning. Wednesday cotton trading led Dec back to the $1.05s, before the board faded into the red. Futures were down 103 to 219 points in the front months at the close. 

USDA’s Ag Attaché sees Chinese cotton output at 6 MMT for 22/23, on higher Xinjiang yields. Import needs were lowered to 1.76 MMT for 21/22. New crop imports were also lowered, but are still estimated to be higher yr/yr at 2.2 MT. The GAIN offices separately trimmed Pakistan production and raised their import forecast for 22/23. Production was 19.4% lower to 5m bales and imports were raised to 5.8m bales for Pakistan. 

The Seam reported 804 bales were sold on 9/6 for an average gross price of 109.70 cents/lb. The Cotlook A Index was firm at $1.21 60/100 for 9/6. The AWP for cotton is 104.86 cents/lb through Thursday. 

Dec 22 Cotton  closed at 101.62, down 193 points, currently up 54 points

Mar 23 Cotton  closed at 98.55, down 183 points, currently up 36 points

May 23 Cotton  closed at 96.5, down 171 points, currently up 60 points