Cotton price action is up 104 to 110 points across most contracts on Monday. Futures saw strength on Friday, with contracts closing steady to 112 higher across the board. December was still down 383 points on the week, despite the Friday gains. Crude oil was back down $1.61 per barrel on the session, with the US dollar index back down $0.203.
The weekly CFTC update via the commitment of traders report showed spec traders in cotton futures and options trimming back their large net long position by 7,017 contracts in the week ending on September 29th, taking it to 74,593 contracts.
