Cotton futures are falling 65 to 72 points across the front months on Tuesday, with pressure coming from the synthetic market. Crude oil futures are $1.44 lower per barrel at $55.38, with the US dollar index $0.185 lower to $97.775.
CFTC data indicated spec funds increasing their net short position by 3,756 contracts to 61,999 contracts as of November 25.
Monday’s online auction from The Seam showed sales of 15,641 bales at an average price of 59.57 cents/lb. The Cotlook A Index was down 10 points on 12/15 at 73.85 cents. ICE certified cotton stocks were down 1,497 bales on December 15 with the certified stocks level at 12,474 bales. The Adjusted World Price was updated to 50.39 cents/lb last Thursday, down 89 points from the previous week.
Mar 26 Cotton is at 63.23, down 71 points,
May 26 Cotton is at 64.4, down 66 points,
Jul 26 Cotton is at 65.44, down 66 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.
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