Cotton futures were up 62 to 165 points at Monday’s close. May futures printed a wide 240-point range on the day, with more than a hundredth either side of UNCH. The new crop Dec contract is now more than a penny/lb below spot futures.
CFTC reported that cotton spec traders added new longs through the week ended 2/20. That left the group 14.5k contracts net longer at 86.1k contracts. The cotton seat keepers business added 7k new shorts through the week, which expanded its net short by 129.3k contracts.
USDA’s weekly Cotton Market review showed 12,251 bales were sold this week at an average of 88.33 cents/lb. The Cotlook A Index was 230 points weaker at 99.30 cents/lb. The AWP was 168 points stronger at 75.12 cents. ICE certified stock was 997 bales as of 2/21.
Mar 24 Cotton closed at 96.58, up 165 points,
24 May Cotton closed at 94.8, up 131 points,
July 24 Cotton closed at 93.68, up 106 points
As of 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 for informational purposes only. For more information, please see Barchart’s Disclosure Policy here.
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