U.S. cotton futures rebounded from recent two-month lows, mainly due to short covering, as traders repositioned before the holiday weekend and Donald Trump’s presidential inauguration. Moreover, there were some signs of increasing demand.

Wool has increased 36 AUD/100Kg or 3.12% since the beginning of 2025.

WTI crude oil futures fell to around $75.5 per barrel after US President Donald Trump reiterated his consideration of a 10% tariff on China, a major oil consumer.  Markets also continued to assess the implications of Trump’s pledges to boost oil production.