Cotton prices are up 45 to 50 points Monday morning. Futures closed Friday’s session with contracts down 10 to 15 points for most of the front month, with March down 10 points for the week. Crude oil futures fell 9 cents a barrel to $57.51, the U.S. dollar index fell $0.061 to $98.405.
A late report from the CFTC showed that a total of 2,086 contracts were reduced from the hedge fund’s net short during the week ending 11/18, to 58,243 contracts. The CFTC will release 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/pound. The Cotlook A index rose 25 points on 12/11 to 74.20 cents. Stocks of ICE certified cotton were stable on December 11 with a certified stock level of 13,971 bales. The adjusted world price was updated to 50.39 cents/pound on Thursday, down 89 points from the previous week.
March 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.
July 26 Cotton closed at 65.94, down 13 points, currently up 46 points.
As of the date of publication, Austin Schroeder had (directly or indirectly) no position in any of the securities mentioned in this article. All information and data contained in this article are for informational purposes only. This article was originally published on Barchart.com
