Cotton futures are trading with a bounce to start the week, as contracts are up 112 to 172 points at midday. Crude oil is back down $1.04 per barrel on the session, with the US dollar index back up $0.338.
The weekly CFTC update via the commitment of traders report showed spec traders in cotton futures and options trimming back their large net long position by 7,017 contracts in the week ending on September 29th, taking it to 74,593 contracts.
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The Seam reported sales on 1,109 bales on Friday at an average of 74.16 cents/lb.The Cotlook A index was down 80 points on October 2 at 88.35. ICE certified cotton stocks were down 5,777 bales on 10/2, with the certified stocks level at 22,240 bales. The Adjusted World Price was down 93 points last week to 65.16 cents/lb.
Oct 26 Cotton is at 75.15, up 112 points,
Dec 26 Cotton is at 80.44, up 156 points,
Mar 27 Cotton is at 83.26, up 172 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.