Cotton price action is mostly 29 to 31 points higher so far on Monday. Futures closed with steady to 11 point gains on the Friday session, with December down 33 points on the day and 114 points on the week. Crude oil futures were down $1.01 per barrel to $57.99 on the day, with the US dollar index $0.010 higher to $100.100.
Commitment of Traders data, still delayed due to the government shutdown, showed spec funds in cotton futures and options adding another 11,586 contracts to their net short position as of 10/7 to 76,326 contracts.
The 11/20 online auction from The Seam showed 4,173 bales sold at an average price of 62.69 cents/lb. The Cotlook A Index was back down 65 points on November 20 at 74.00 cents. ICE certified cotton stocks were steady on Thursday with the certified stocks level at 20,344 bales. The Adjusted World Price was updated to 50.80 cents/lb on Thursday, down 103 points from the previous week. It is into effect Friday through next Thursday.
Dec 25 Cotton closed at 61.35, down 33 points, currently down 8 points
Mar 26 Cotton closed at 63.85, up 11 points, currently down 30 points
May 26 Cotton closed at 65.07, up 7 points, currently down 30 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.
