Cotton futures are trading with gains of 77 to 82 points at midday. The US dollar index is $0.020 lower at $99.840. Crude Oil is up $1.07 at $112.61.
Managed money was slashing 21,222 contracts from their net short in cotton futures and options in the week of March 31. That took their near record (in mid-February) net short to a net short of just 12,226 contracts.
The Seam showed 651 bales sold on Thursday at an average of 63.37 cents/lb. The Cotlook A Index was back up 75 points on 4/2 at 81.50 cents. ICE certified cotton stocks were down 1,424 bales on decertification on April 2, with the certified stocks level at 113,241 bales. The Adjusted World Price was raised by 252 points on Thursday afternoon to 56.99 cents/lb.
May 26 Cotton is at 71.74, up 82 points,
Jul 26 Cotton is at 73.87, up 82 points,
Dec 26 Cotton is at 75.75, up 77 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. For more information please view the Barchart Disclosure Policy here.
