Cotton prices are up 42 to 53 points so far on Tuesday. Futures settled Friday with contracts back up 54 to 87 points across the board. March cotton ended the week up 59 points. The outside markets were pressure factors, as the US dollar index was up 438 points, with crude oil $0.64/barrel lower.
CFTC Commitment of Traders data showed managed money spec traders adding 3,744 contracts to their net short position as of 1/14 at 43,086 contacts.
Export Sales data showed a total of 316,248 RB of upland cotton sold in the week ending on January 9. Total sales commitments, including shipments, are now at 8.068 million RB. That is 78% of the USDA export projection for 24/25 exports, behind the 82% average sales pace.
The Seam reported 4,510 bales of online sales on January 16 at an average price of 57.66 cents/lb. ICE cotton stocks were unchanged on Thursday, at 218 bales of certified stocks. The Cotlook A Index was back up 30 points on 1/16 at 78.15 cents/lb. The USDA Adjusted World Price (AWP) was back down 68 points from the previous week on Thursday afternoon at 53.98 cents/lb.
Mar 25 Cotton closed at 67.6, up 87 points, currently up 42 points
May 25 Cotton closed at 68.63, up 78 points, currently up 44 points
Jul 25 Cotton closed at 69.62, up 74 points currently up 43 points
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