Cotton price action is up 130 to 145 points so far on Monday AM trade. Futures saw weakness extend to Friday, with contracts closing down 62 to 89 points on the day, with December down 291 points last week. Crude oil was up another $3.50 per barrel, with the US dollar index up 0.011.
Friday afternoon’s Commitment of Traders report showed managed money spec funds in cotton futures and options adding another 10,578 contracts to their net long in the week ending on Tuesday to 49,684 contracts.
