Cotton futures show gains of 13 to 42 points in most contracts midday Friday. Crude oil futures rose 50 cents a barrel to $58.56 on the day, with the US dollar index up $0.027 at $100.140.
Traders’ Commitment data, still delayed due to the government shutdown, showed hedge funds in cotton futures and options added another 11,586 contracts to their net short position as of 7/10 at 76,326 contracts.
The Seam’s Nov. 20 online auction showed 4,368 bales sold at an average price of 60.77 cents per pound. The Cotlook A index was unchanged on November 21 at 74.00 cents. Stocks of ICE certified cotton were stable on Friday with a certified stock level of 20,344 bales. The adjusted world price was updated to 50.80 cents/pound on Thursday, down 103 points from the previous week. It is in effect until Thursday.
December 25 Cotton is at 61.48, up 13 points.
Mar 26 Cotton is at 64.27, an increase of 42 points.
May 26 Cotton is at 65.46, up 39 points
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