Cotton Higher at Midday
Cotton price is trading with gains of 85 to 96 points so far on Monday’s midday. Crude oil prices are up $0.33/barrel. The US dollar index is back down $0.666 to $100.280.
The weekly CFTC report showed money managers in cotton futures and options adding 8,039 contracts to their net short position as of May 13th. That that short stood at 29,088 contracts as of the Tuesday close.
The Seam reported 707 bales sold on 5/16 at an average price of 56.15 cents. The Cotlook A Index was unchanged on Friday at 77.25. ICE cotton stocks were steady on May 16, with a certified stocks level of 34,153 bales. USDA’s Adjusted World Price (AWP) was back down 91 points on Thursday to 53.90 cents/lb.
Jul 25 Cotton is at 65.85, up 96 points,
Oct 25 Cotton is at 67.58, down 69 points,
Dec 25 Cotton is at 68.56, up 89 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.