Cotton bulls celebrated Thursday’s close as prices on the nearby March contract eked out a close near 62 cents. Many are proclaiming the market low is in, but I am not one. However, we do hope they are correct.
Markets head into a quieter data week, but policy headlines and macro signals will continue to drive the tone.
• Investor sentiment improved after the Supreme Court’s decision on tariffs supported equities and pressured the dollar, though uncertainty remains around the administration’s next steps on trade policy, including the proposed move to a 15 percent global tariff. When trading activity normalizes this week, it should be largely back to business as usual.
Markets enter a holiday-shortened but event-heavy week, with macro data and policy headlines likely to set the tone. U.S. markets are closed today, February 16. When trading resumes tomorrow, it should be back to business as usual.