Cotton Bouncing on Monday Morning


Cotton futures are up 38 to 74 points this Monday morning. The market fell back lower on Friday, as contracts were down 5 to 38 points. On the week, July was down 142 points, with December losing just 16. The outside market factors were a mixed bag, with crude oil up another 76 cents and the US dollar index just 25 points higher.

The large managed money speculators in cotton futures and options added 1,615 contracts to their net long position as of 5/14. As the Tuesday reporting period, they were net short 15,314 contracts, the largest in nearly 11 months. 

ICE certified cotton stocks rose another 5,969 bales on May 15 at 188,839 bales. The Seam reported 216 bales sold on the platform on 5/16, with an average price of 59.95 cents/lb. The Cotlook A Index was back up 90 points on May 16 at 85.10 cents/lb. The AWP dropped another 18 points to 59.46 on Thursday and is good through next week.

Jul 24 Cotton  closed at 75.89, down 35 points, currently up 70 points

Dec 24 Cotton  closed at 74.97, down 22 points, currently up 47 points

Mar 25 Cotton  closed at 76.58, down 22 points, currently up 45 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.