Cotton price action is down 50 to 86 points so far on Monday morning. Futures posted 25 point gains across the nearby contracts on Friday, with May down 2 points on the week. December was up 40 points last week. Crude oil is up $5.07 this morning following the US/Israel strikes on Iran over the weekend. The US dollar index is rising $0.840 to $98.405.
Commitment of Traders data from Friday afternoon showed a total of 14,140 contracts trimmed from the spec fund net short position as of Tuesday, taking it to 65,368 contracts.
