Cotton prices are down 10 to 13 points early on Tuesday. Futures were up 10 to 16 points in the front months at the Monday close. Crude oil futures were 79 cents lower per barrel at $56.65, with the US dollar index $0.093 lower to $98.300.
CFTC data indicated spec funds increasing their net short position by 3,756 contracts to 61,999 contracts as of November 25.
Export Sales data from Monday showed 148,396 RB in cotton sales for the week ending on November 20, a 3-week low. Shipments were back up from the week prior at 120,825 RB.
Friday’s online auction from The Seam showed sales of 8,516 bales at an average price of 59.57 cents/lb. The Cotlook A Index was back down 25 points on 12/12 at 73.95 cents. ICE certified cotton stocks were steady on December 11 with the certified stocks level at 13,971 bales. The Adjusted World Price was updated to 50.39 cents/lb last Thursday, down 89 points from the previous week.
Mar 26 Cotton closed at 63.94, up 11 points, currently down 13 points
May 26 Cotton closed at 65.06, up 15 points, currently down 11 points
Jul 26 Cotton closed at 66.1, up 16 points currently down 11 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.
