Cotton Near Highs into Day Session


Cotton prices are sitting near the top of the 60 point (Mar) overnight range with 13 to 39 point gains in early Monday market action. Cotton futures were down on Friday with front month losses of 24 to 64 points. The March contract was down 157 points for the week.  

The CFTC Commitment of Traders report had managed money traders with a 695 contract net long. The net new buying of 900 contracts (in addition to some short covering) flipped the group from a 537 contract net short the week prior. Commercial cotton hedgers closed 6.4k short contracts and were reported on a 38,296 contract net short as of 11/28. 

USDA’s weekly Cotton Market Review showed 35,889 bales were sold with an average price of 75.04 cents/lb. 

The Cotlook A Index for November 30 was UNCH at 89.70 cents. The AWP was 105 points lower to 64.18 cents/lb. ICE certified stocks stand at 87,770 bales. 

Mar 24 Cotton  is at 79.88, down 18 points, currently up 34 points

May 24 Cotton  is at 80.56, down 14 points currently up 19 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.