Cotton futures are fading lower, with contracts down 20 to 25 points, as thin October is up 16 points. Crude oil is back up $4.21 on the day following increased tensions with the US and Iran. The US dollar index is up $0.285.
Friday afternoon’s Commitment of Traders report showed managed money spec funds in cotton futures and options adding 7,121 contracts to their net long in the week ending on Tuesday to 39,106 contracts.
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The Seam reported 131 bales sold in their online sale, at an average of 76 cents. The Cotlook A Index was unchanged on July 10 at 89.75 cents. ICE certified cotton stocks were down 31,480 bales on 7/10 via decertification, with the certified stocks level at 127,127 bales. The Adjusted World Price was back up 92 points last week to 62.86 cents/lb.
Oct 26 Cotton is at 80.08, up 16 points,
Dec 26 Cotton is at 81.29, down 25 points,
Mar 27 Cotton is at 82.7, down 21 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.