Cotton futures shrugged off the early weakness on Friday, with contracts up 17 to 36 points higher, as December closed out the week 24 points higher. The US dollar index was back down $0.134 to $98.095, as crude oil futures were down 46 cents.
CFTC data showed a total of 14,791 contracts added to the managed money net short position in the week of August 5. That position stood at -55,152 contracts as of Tuesday.
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The Cotlook A Index was down 25 points at 78.00 cents on August 6. ICE cotton stocks were down 3,375 bales on 8/7 via decertifications, with the certified stocks level at 18,242 bales. USDA’s Adjusted World Price (AWP) was down 13 points on Thursday afternoon at 54.39 cents/lb.
Oct 25 Cotton is at 65.32, up 36 points,
Dec 25 Cotton is at 66.6, up 17 points,
Mar 26 Cotton is at 68.07, up 17 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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