Cotton Rallying Back on Monday Morning

Cotton bulls are putting money back on the table following the retreat on Friday, with Monday morning gains of 204 to 258 points. Futures were down 79 to 103 points across the front months on Friday, as December was down 491 points on the week. Crude oil was back down $2.38 per barrel on the session, with the US dollar index down $0.040. 

China’s President Xi will be in the US this week to meet with President Trump, with trade a topic of conversation. Secretary Bessent headed to China over the weekend to set up talks for next week.

CFTC Commitment of Traders data showed managed money trimming back 2,267 contracts from their net long position in the week of September 15, taking it to 97,903 contracts.

The Cotlook A index was down 25 points on September 17 at 94.35. ICE certified cotton stocks were steady on 9/17, with the certified stocks level at 36,617 bales. The Adjusted World Price was back down 59 points on Thursday to 68.92 cents/lb.

Oct 26 Cotton  closed at 77.38, down 103 points, currently up 258 points

Dec 26 Cotton  closed at 81.15, down 102 points, currently up 222 points

Mar 27 Cotton  closed at 83.79, down 102 points, currently up 225 points