Cotton futures closed Friday’s session with contracts down 15 to 30 points on the day, while March was 78 points lower on the week. Crude oil futures rose 47 cents a barrel to $60.14 on the day, with the U.S. dollar index up $0.042 at $98.995.
Lagged data from the CFTC showed that managed money was net short 74,093 cotton futures and options contracts as of 10/28, a reduction of 7,152 contracts from the previous week.
The Seam’s Dec. 4 online auction showed 5,171 bales sold at an average price of 58.37 cents/pound. The Cotlook A index fell 10 points on Thursday to 74.70 cents. Stocks of ICE certified cotton decreased by 4,309 bales on December 4 and the certified stock level was 15,585 bales. The adjusted world price was updated Thursday to 51.28 cents/lb last week, up 51 points from the previous week.
December 25 Cotton closed at 62.13, a drop of 15 points.
March 26 Cotton closed at 63.93, 15 points lower.
May 26 Cotton closed at 65, 23 points less
As of the date of publication, Austin Schroeder had no (directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. This article was originally published on Barchart.com