Cotton Posting Monday Midday Gains
Cotton futures are up 15 to 51 points across most contracts. Crude oil is up just $3.97 at midday and nearly $25 from the overnight highs. The US dollar index is back up $0.116 at $99.095.
CFTC reported managed money increasing their net short position in cotton futures and options by 7,569 contracts as of 3/3, taking the net position to 72,937 contracts.
The Seam showed sales of 848 bales on March 6, averaging 58.05 cents/lb. The Cotlook A Index was down 10 points on Tuesday at 74.65 cents. ICE certified cotton stocks were steady on 3/6, with the certified stocks level at 128,504 bales. The Adjusted World Price was trimmed by 40 points on Thursday to 51.44 cents/lb.
Mar 26 Cotton is at 63.19, up 16 points,
May 26 Cotton is at 64.71, up 51 points,
Jul 26 Cotton is at 66.65, up 49 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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