Cotton futures are ticking higher at Tuesday’s midday steady to 9 points higher. The outside factors are mixed on the day as the US dollar index is up 427 points, with crude oil $0.81/barrel higher. The market will be closed on Wednesday for New Years Day.
Commitment of Traders data showed a total of 6,263 contracts added to their net short position as of December 24. That took their net short to 35,520 contracts.
The Seam reported 9,870 bales of online sales on December 30 at an average price of 61.36 cents/lb. ICE cotton stocks were unchanged on Monday, at 20,113 bales of certified stocks. The Cotlook A Index was up 10 points on 12/30 at 79.40 cents/lb. The USDA Adjusted World Price (AWP) was cut by another 54 points last week to 54.55 cents/lb. It is good through this Thursday.
Mar 25 Cotton is at 68.55, up 7 points,
May 25 Cotton is at 69.67, up 8 points,
Jul 25 Cotton is at 70.68, up 9 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. More news from BarchartThe views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
