Cotton Posting Higher Midday Action
Cotton futures are up 15 to 21 points across most contracts on Monday, with in delivery July up 209 points. The outside factors are helping, mainly vis crude oil, up $1.51/barrel so far.
Spec funds in cotton futures and options trimmed their net short position by 7,281 contracts in the week ending June 25, to 36,738.
ICE certified cotton stocks were 59,035 bales on June 28, unchanged from the day prior. The Cotlook A Index was down 75 points on June 27 at 84.70 cents/lb. The USDA Average World Price (AWP) rebounded from the previous week decline, up 1.58 to 58.23 cents per pound. It will be in effect through July 4. Because of the holiday, the next AWP rate announcement from FSA will be on Friday, July 5 at 8 AM EDT.
Jul 24 Cotton is at 71.9, up 209 points,
Dec 24 Cotton is at 72.9, up 21 points,
Mar 25 Cotton is at 74.56, up 20 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.