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Cotton futures are trading with contracts up 35 to 46 cents at midday. The US dollar index is $0.053 lower at $97.840. Crude oil is back up $4.92 at midday.
Managed money flipped their net short by 18,845 contracts to a net long of 16,825 contracts in cotton futures and options, as of April 14, That was the first net long in nearly 2 years.
The Seam showed 1,783 bales sold on 4/17 at an average of 74.86 cents/lb. The Cotlook A Index was 75 points higher on April 17 at 87.35 cents. ICE certified cotton stocks were up 2,600 on Friday, with the certified stocks level at 164,967 bales. The Adjusted World Price was up another 287 points on Thursday at 61.61 cents/lb.
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.
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