DTN Morning Cotton Commentary          03/06 07:15

   Cotton Follows the Leaders 

   The cotton market is begrudgingly higher Friday morning, encouraged by the 
rapacious outside markets. 

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market is begrudgingly higher Friday morning, encouraged by the 
rapacious outside markets. Overnight the energies, the metals, and the grains 
are collectively higher as Hormuz Fever is causing financial delirium. 

   Crude oil prices are on track for their biggest weekly gain since Russia's 
full-scale invasion of Ukraine in early 2022. The spike comes as the U.S.-Iran 
conflict spreads across the Middle East, disrupting energy production and 
bringing traffic in the Strait of Hormuz, a critical shipping route, to a near 
standstill.

   Spot March cotton saw five delivery notices Friday, bringing the total to 
605 for this reporting period. Spot delivery runs through Monday, March 9.

   This morning the Labor Department will issue new jobs data. Last month saw 
total nonfarm payroll employment increase by 130,000 in January 2026, after 
changing little in 2025 (+15,000 per month on average). Job gains occurred in 
health care, social assistance, and construction, while federal government and 
financial activities lost jobs in January.

   Also Friday at 3:30 p.m. EST, the CFTC will update its Commitments of 
Traders data. Last week, the managed-money funds had bought-in some 14,140 
positions, reducing their net-short carry to 65,368. For context their record 
bearish position stands at 81,358 contracts.

   Chart support for July cotton stands at 65.50 cents and 65.10 cents, with 
resistance around 66.75 cents and 67.55 cents. Friday morning's estimated 
volume is 10,204 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com or by calling 
(229) 890-7780.




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