Weakened dollar & stimulus package will keep Cotton futures steady as it sees fresh high on intraday

The Cotton futures prices increased on Jan 04, 2021 intraday at Rs.21,120 per bale and saw fresh increase on the MCX. The US Cotton futures were increased by 1.66% quoting around 79.42 cents/ pounds on international exchange. The future of Cotton looks goods as the export due to Indian cotton prices & falling inventories in the world market and the an all time high recorded in the edible oil prices in the country provides a strong base.