Cotton Market Gaining on Monday

Starting the new month of trading, cotton futures are up by triple digits in the thin Oct contract. The other front months are trading 80 to 96 points higher. CFTC’s weekly data release showed cotton spec funds reduced their net long by 4,738 contracts to 25,635 on July 28. That came via long liquidation. On a bout of short covering from the commercials, the CoT report showed PMPU had reduced their net short 7.7% to 80,482 contracts. Last week’s sales on The Seam were 24,474 bales sold at a wtd cash price of 58.71 cents/lb. The Cotlook A index was 150 points higher to 68.55 cents/lb on July 31. The week’s AWP is 47.71 cents/lb, and the LDP is 4.29 cents/lb.

Oct 20 Cotton is at 63.35, up 105 points,

Dec 20 Cotton is at 63.46, up 80 points,

Mar 21 Cotton is at 64.15, up 90 points

May 21 Cotton is at 64.68, up 96 points

--- provided by Brugler Marketing & Management




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