Cotton price action is up 38 to 43 points so far on Monday. Futures posted mixed trade on Friday, with contracts down 19 points to 24 points higher. December was down 54 points on the week. Crude oil was up $3.87 per barrel on the session, with the US dollar index $0.255 lower.
Weekly CTC data showed managed money adding 1,862 contracts to their net long position in cotton futures and option as of 10/13, taking it to 65,699 contracts.
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USDA’s Export Sales report showed 146,892 RB of cotton sales in the week ending in October 8, which was down 11.12% from last week. Costa Rica was the buyer of 74,300 RB, with 21,300 RB to India and 19,800 RB to Pakistan. Sales for 2027/28 were 7,182 RB. Shipments were tallied at 140,561 RB, which was back down 13.11% from last week and a 0.94% increase from the same week last year. Vietnam was the top destination of 40,800 RB, with 20,100 RB to India.
The Seam reported 404 bales sold on October 15, at an average of 73.56 cents/lb. The Cotlook A index was raised by 20 points on Thursday at 91.45. ICE certified cotton stocks were down 2,627 on 10/15, with the certified stocks level at 15,129 bales. The Adjusted World Price was back up 80 points on Thursday to 64.61 cents/lb.
Dec 26 Cotton closed at 80, down 6 points, currently up 38 points
Mar 27 Cotton closed at 83.24, down 18 points, currently up 43 points
May 27 Cotton closed at 84.93, down 19 points, currently up 40 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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