Cotton price action at midday is 64 to 81 points higher on Monday. The outside markets are mixed factors. Crude oil futures are down $1.23/barrel, with the US dollar index falling $1.068 so far on the day.
Managed money spec traders were adding another 11,067 contracts to their net short as of 2/25, to a record net short of 68,453 contracts.
The Seam showed 710 bales in online sales on February 28, with an average price of 47.89 cents/lb. The Cotlook A Index was down another 25 points on 2/28 at 77.25 cents/lb. ICE cotton stocks were unchanged again on Friday with the current level of certified stocks at 12,653 bales. The USDA cut back their Adjusted World Price (AWP) on Thursday afternoon by 78 points to 53.89 cents/lb.
Mar 25 Cotton is at 64.69, up 81 points,
May 25 Cotton is at 65.94, up 69 points,
Jul 25 Cotton is at 67.03, up 64 points
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