Cotton prices are down 65 to 103 points so far on Monday morning. Futures closed the Friday session with contracts up 89 to 199 points higher, as July was up 483 points for the week. December was up 398 points. The US dollar index was $0.146 higher at $98.065. Crude oil was down $2.57 to $102.50.
Managed money added another 3,891 contracts to their net long position in cotton futures and options in the week ending on April 28, taking it to 38,355 contracts.
Export Sales data has export commitments at 10.691 million RB, which is 2% below last year’s total for this time. That is also 95% of the USDA export projection and lags the 102% 5-year average sales pace.
The Seam showed 5,415 bales sold on 4/30 at an average of 73.63 cents/lb. The Cotlook A Index was down 50 points on April 30 at 89.05 cents. ICE certified cotton stocks were up 1,585 bales on Thursday, with the certified stocks level at 167,266 bales. The Adjusted World Price was up another 40 points on Thursday afternoon to 65.66 cents/lb.
May 26 Cotton closed at 81.85, up 199 points, currently unch
Jul 26 Cotton closed at 84.19, up 199 points, currently down 103 points
Dec 26 Cotton closed at 84.56, up 169 points, currently down 73 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.
