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Cotton Bounce Back on Monday
Cotton futures closed out the Monday session with contracts 56 to 63 points higher on the day. The outside factors were mostly friendly, as the US dollar index was up just 33 points, with crude oil $2.21/barrel higher.
CFTC Commitment of Traders data showed speculators in cotton futures and options trimming 340 contracts from their net short as of January 7 to 39,342 contracts.
The Seam reported 4,236 bales of online sales on January 10 at an average price of 59.30 cents/lb. ICE cotton stocks were unchanged on Friday, at 20,113 bales of certified stocks. The Cotlook A Index was back up 25 points on 1/9 at 78.95 cents/lb. The USDA Adjusted World Price (AWP) was back down 37 points from the previous week last Thursday at 54.66 cents/lb.
Mar 25 Cotton closed at 67.64, up 63 points,
May 25 Cotton closed at 68.87, up 61 points,
Jul 25 Cotton closed at 69.93, up 56 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.