The cotton market was lower Tuesday as the month of February concluded.

Hi our beloved customers:

We would like to update cotton news by Vigotex:

• ICE 2023 May: Closed 84.03 c/lb, -0.77 cents;
• ICE 2023 July: Closed  84.46 c/lb, -0.77 cents;
• ICE 2023 Dec: Closed 83.83 c/lb, -0.43 cents;
• Estimated volume: 22,967 contracts

The cotton market was lower Tuesday as the month of February concluded. There was squaring and balancing by certain managed-money funds, along with a measure of producer price fixation. The sharp weakness in grains, based on superior South American crops, may have played a bearish role.

           As traders move into the month of March, they will focus on 2023 acres. Already the NCC published its membership survey showing a 17% reduction. This was followed by an even deeper decline of 21% from USDA's Ag Forum. The official Prospective Plantings will be issued on March 3t. That will be the benchmark number for any additions or subtractions to the crop.

         The Dow Jones Industrial Average fell Tuesday as traders wrapped up a tough month for the stock market. Despite a solid start to the year, the major indexes are on pace for their second negative month in the last three. The Dow is down 4% for the month and is down year to date. The S&P 500 and Nasdaq Composite have lost about 2.5% and 1% in February, respectively, but are still higher year to date. The machinations of the Dow help to form a psychological outlook for industrial commodities such as cotton.