Despite a marketing-year high sales number Thursday morning, the cotton market concluded pretty much unchanged.

Hi our beloved customers:

We would like to update cotton news by Vigotex:

• ICE 2023 Mar: Closed 86.50 c/lb, +0.13 cents;
• ICE 2023 July: Closed 86.45 c/lb, -0.19 cents;
• ICE 2023 Dec: Closed 85.27 c/lb, -0.03 cents;
• Estimated volume: 79,064 contracts

Despite a marketing-year high sales number Thursday morning, the cotton market concluded pretty much unchanged. In the current environment of rising interest rates, many markets lack enthusiasm. Still traders hope to see China come charging back economically, but her recovery remains a process.

Friday the CFTC will issue its latest traders update. At last count, the managed-money funds had moved from net short to net long.

            Options on March futures expire Friday on the close.

            As of this writing, the Dow Jones gave up a 300-point gain as concerns over the Federal Reserve and future monetary policy offset excitement around the latest batch of corporate earnings. Other indices followed suit. At session highs, the Dow advanced more than 300 points, while the S&P 500 and Nasdaq Composite were up 0.9% and 1.4%, respectively. Traders' attitudes reflect the idea that the Fed will have to do a lot more tightening than what Wall Street has factored.

            Heading into Friday's trade, we note that spot March cotton is plus 0.07 cent on the week, but down 0.72 cent on the month, and is positive 2.13 cents on the year.