Cotton Trying to Push Higher on Monday

Cotton futures are trading with October down 60 points, with other contracts up 10 to 21 points. Crude oil is up 68 cents per barrel on the session, with the US dollar index $0.162 higher. 

Following last week’s US/China meeting, China dropped tariffs on several US goods, but left cotton off the list. 

CFTC Commitment of Traders data showed managed money cutting 16,293 contracts from their net long position in the week of September 22, taking it to 81,610 contracts.

The Seam reported sales of just 178 bales on September 25 at an average of 63.49 cents/lb. The Cotlook A index was up 50 points on 9/25 at 93.75. ICE certified cotton stocks were down 1,455 bales on Friday, with the certified stocks level at 28,064 bales. The Adjusted World Price was down 283 points last week to 66.09 cents/lb.

Oct 26 Cotton  is at 78.91, down 60 points,

Dec 26 Cotton  is at 82.82, up 11 points,

Mar 27 Cotton  is at 85.7, up 21 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.