Cotton prices are 12 to 15 points lower so far on Tuesday morning. Futures ended the Monday session with contracts down 37 to 41 points on the day. The outside factors were mixed on the day as the US dollar index was up 45 points, with crude oil $0.53/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 4,206 bales of online sales on December 27 at an average price of 61.99 cents/lb. ICE cotton stocks were unchanged on Friday, at 20,113 bales of certified stocks. The Cotlook A Index was down 30 points on 12/27 at 79.30 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 closed at 68.48, down 41 points, currently down 12 points
May 25 Cotton closed at 69.59, down 37 points, currently down 15 points
Jul 25 Cotton closed at 70.59, down 40 points, currently down 13 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.
