Cotton Holding Higher at Monday’s Midday
Cotton futures are up 34 to 63 points so at Monday’s midday. Crude oil is up another 24 cents per barrel, with the US dollar index up 0.239.
Friday afternoon’s Commitment of Traders report showed managed money spec funds in cotton futures and options adding another 10,578 contracts to their net long in the week ending on Tuesday to 49,684 contracts.
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The Seam reported 2,299 bales sold on Friday at an average of 80.40 cents/lb. The Cotlook A Index was down 225 points on 7/17 at 88.40 cents. ICE certified cotton stocks were unchanged on July 17, with the certified stocks level at 98,838 bales. The Adjusted World Price was raised by 3.52 cents on Thursday to 65.37 cents/lb.
Oct 26 Cotton is at 77.41, up 34 points,
Dec 26 Cotton is at 79.26, up 63 points,
Mar 27 Cotton is at 80.62, up 61 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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