Cotton price action is up 2 to 29 points so far on Monday AM trade. Futures saw gains of 120 to 130 points on Friday with December up 261 points on the week. Crude oil was up 21 cents per barrel, with the US dollar index $0.308 lower.
Friday afternoon’s Commitment of Traders report showed managed money spec funds in cotton futures and options adding 9,869 contracts to their net long in the week ending on Tuesday to 62,279 contracts.
The Seam reported 72 bales sold on the 8/6 sale, with an average price of 67.75 cents. The Cotlook A Index was up 50 points on August 6 to 93.50 cents. ICE certified cotton stocks were steady on Wednesday, with the certified stocks level at 84,632 bales. The Adjusted World Price was raised by 163 points on Thursday to 66.29 cents/lb.
Oct 26 Cotton closed at 83.22, up 126 points, currently up 2 points
Dec 26 Cotton closed at 84.4, up 124 points, currently up 28 points
Mar 27 Cotton closed at 86.18, up 129 points, currently up 29 points
