Cotton futures are trading with Monday gains of 29 to 36 points at midday. The outside markets are supportive factors, as the US dollar index is down $0.150 on the day to $97.620 and crude oil futures $0.38 higher.
Spec funds in cotton futures and options were increasing their already large net short position by 6,438 contracts as of September 2, taking that net short to 66,369 contracts.
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The Seam reported 1,732 bales sold on Friday at an average price of 63.55 cents/lb. The Cotlook A Index was up 10 points at 77.60 cents on September 5. ICE cotton stocks were steady on 9/5, with the certified stocks level at 15,474 bales. USDA’s Adjusted World Price (AWP) was down another 63 points on Thursday at 54.31 cents/lb.
Oct 25 Cotton is at 64.75, up 36 points,
Dec 25 Cotton is at 66.35, up 32 points,
Mar 26 Cotton is at 68.25, up 29 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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