Cotton price action is down 8 to 14 points in most contracts on Monday morning. Futures closed Friday with losses of 25 to 61 points in the front months, as December was down 54 points last week. The outside markets were pressure factors, with the US dollar index up another $0.334 on the day to $97.305 and crude oil futures $0.93 lower.
The weekly CFTC Commitment of Traders report indicated managed money trimming their net short in cotton futures and options by 9,844 contracts to 59,061 contracts by September 16.
