Cotton price action is easing lower on Monday, with contracts down 10 to 20 points. Futures rounded out the week with losses of 10 to 13 points on Friday. December was still up 126 points on the week. Crude oil futures were back down 21 cents per barrel, with the US dollar index down $0.236 to $98.210.
Weekly CFTC data showed a total of 7,626 contracts cut from the net short position among spec traders in cotton futures and options. The collective group was net short 38,464 contracts as of July 15.
