Cotton price action is up 50 to 60 points so far on Monday. Futures rounded out the Friday session with contracts steady to 5 points lower, as March was 40 points higher last week. Crude oil futures were back up $1.02 per barrel at $58.78. The US dollar index was up $0.212 at $98.900.
Commitment of Traders data showed a total of 1,306 contracts cut from the managed money net short position in the week ending on January 6. That took their net short to 47,772 contracts.
The Thursday online auction from The Seam showed sales of 61.10 cents/lb on 10,864 bales. The Cotlook A Index was down 25 points on January 8 at 74.80 cents. ICE certified cotton stocks were steady on 1/8 with the certified stocks level at 11,510 bales. The Adjusted World Price was updated to 50.97 cents/lb on Thursday afternoon, up 21 points from the week prior.
Mar 26 Cotton closed at 64.41, down 5 points, currently up 56 points
May 26 Cotton closed at 65.91, down 2 points, currently up 51 points
Jul 26 Cotton closed at 67.31, unch, currently up 50 points
