Cotton futures are slipping back 5 to 12 points on Tuesday. Crude oil futures are up $1.07 per barrel at $60.33. The US dollar index is collapsing $0.926 at $98.275.
CFTC’s Commitment of Traders report from Friday indicated managed money increasing their net short in cotton futures and options by 2,600 contracts to 50,372 contracts as of last Tuesday.
The January 19 online auction from The Seam showed sales of 60.43 cents/lb on 1,971 bales. The Cotlook A Index was unchanged on 1/19 at 74.80 cents. ICE certified cotton stocks were unchanged on Monday with the certified stocks level at 11,029 bales. The Adjusted World Price was updated to 51.17 cents/lb on Thursday, up 20 points from the week prior.
Mar 26 Cotton is at 64.54, down 12 points,
May 26 Cotton is at 66.16, down 7 points,
Jul 26 Cotton is at 67.6, down 5 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
