Cotton prices are up 45 to 50 points on Monday morning. Futures closed the Friday session with contracts down 10 to 15 points across most front months, as March was down 10 points on the week. Crude oil futures were down 9 cents per barrel at $57.51, with the US dollar index $0.061 to $98.405.
A delayed CFTC report showed a total of 2,086 contracts trimmed from the spec fund net short in the week ending on 11/18 to 58,243 contracts. CFTC will put out another report this afternoon for the week of 11/25.
Thursday’s online auction from The Seam showed sales of 13,615 bales at an average price of 60.93 cents/lb. The Cotlook A Index was back up 25 points on 12/11 at 74.20 cents. ICE certified cotton stocks were steady on December 11 with the certified stocks level at 13,971 bales. The Adjusted World Price was updated to 50.39 cents/lb on Thursday, down 89 points from the previous week.
Mar 26 Cotton closed at 63.83, down 14 points, currently up 50 points
May 26 Cotton closed at 64.91, down 14 points, currently up 48 points
Jul 26 Cotton closed at 65.94, down 13 points currently up 46 points
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
