So far the midweek trade has cotton up by 53 to 125 points. Cotton futures ended off their highs on Tuesday, but still went home in the black with help from a weaker US dollar. May cotton settled 131 points under its session high but held on to a 63 point gain for the day. The other nearbys were up by 75 to 100 points at the bell.
CFTC reported Commitment of Traders data as of the 3/14 settle, showing that managed money speculator funds had added 8,800 new cotton shorts through the week. That extended the group’s net short to 13,653 contracts. The commercial hedgers were both adding new longs and closing short hedges for a net 8,027 contract weaker net short. That had the group 24,678 contracts net short as of the 3/14.
The 3/20 Cotlook A Index was 125 points lower to 92.30 cents. The AWP for cotton is 68.58 cents/lb, through Thursday. ICE certified stocks were 1,661 bales as of 3/17.
May 23 Cotton closed at 77.85, up 63 points, currently up 137 points
Jul 23 Cotton closed at 78.45, up 75 points, currently up 114 points
Dec 23 Cotton closed at 79.54, up 73 points, currently up 90 points
On the date of publication, Alan Brugler 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.