Cotton futures closed the Friday session with contracts down 15 to 30 points on the day, as March was 78 points lower on the week. Crude oil futures were up 47 cents per barrel at $60.14 on the day, with the US dollar index $0.042 higher to $98.995.
Delayed CFTC data showed managed money net short 74,093 contracts of cotton futures and options as of 10/28, a 7,152 contract reduction from the week prior.
The 12/4 online auction from The Seam showed 5,171 bales sold at an average price of 58.37 cents/lb. The Cotlook A Index was down 10 points on Thursday at 74.70 cents. ICE certified cotton stocks were down 4,309 bales on December 4 with the certified stocks level at 15,585 bales. The Adjusted World Price was updated on Thursday to 51.28 cents/lb last week, up 51 points from the previous week.
Dec 25 Cotton closed at 62.13, down 15 points,
Mar 26 Cotton closed at 63.93, down 15 points,
May 26 Cotton closed at 65, down 23 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. This article was originally published on Barchart.com
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