|
Cotton Pressured Lower So Far on MondayCotton futures are trading with 19 to 21 point losses in the nearbys. The outside markets are a pressure factors, with crude oil falling $4/barrel, as the US dollar index is 13 points higher. Commitment of Traders data showed spec funds in cotton futures and options trimming 6,470 contracts from their net short as of October 22. That halved the previous position, now at 6,194 contracts as if Tuesday. The Seam reported 496 bales of online sales on October 25 at an average price of 68.84 cents/lb. ICE cotton stocks were unchanged on Friday, leaving 174 bales of certified stocks. The Cotlook A Index was down 100 points on October 25 at 83.25 cents/lb. The USDA Adjusted World Price (AWP) was back up 4 points to 59.28 cents/lb on Thursday afternoon. Mar 25 Cotton is at 72.64, down 21 points, May 25 Cotton is at 74.2, down 19 points, Jul 25 Cotton is at 75.27, down 19 points On the date of publication, Austin Schroeder 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. |
|