Cotton Falling Lower on Monday
Cotton prices are trading with 100 to 114 points so far on Monday. The outside markets pressure factors, with the crude oil down $1.80/barrel and the US dollar index 368 points higher.
Spec funds in cotton futures and options added trimmed 224 contracts from their net short as of 10/8. That net short was at 11,923 contracts as of Tuesday.
The Seam reported 635 bales of online sales on October 11 at an average price of 69.38 cents/lb. ICE cotton stocks were unchanged on Friday, leaving 265 bales of certified stocks. The Cotlook A Index was up 50 points on October 11 at 84.50 cents/lb. The USDA Adjusted World Price (AWP) was trimmed by another 40 points last week to 60.41 cents/lb. It is good through Thursday.
Mar 25 Cotton is at 73.19, down 114 points,
May 25 Cotton is at 74.59, down 112 points,
Jul 25 Cotton is at 75.47, down 110 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.
