Cotton futures are trading 20 to 31 point higher in the front months on Monday, with the new crop months down 17 to 22 points. The US dollar index is down 86 points, with the crude oil futures down 95 cents.
Cotton spec traders were shown 3.9k contracts less net long for the week after a bout of long liquidation. The CoT report had the group 80.6k contracts net long as of the settle. Commercial cotton traders were adding new hedges, though the shorts offset the new longs for a 4k contract swing to 127.6k contracts net short as of 4/2.
The Seam reported 560 bales sold on the April 4th sale for an average price of 68.38 cents, a 2.62 cent drop from the previous day. The Cotlook A Index was back down by 150 points to 92.60 cents/lb on 4/5. The AWP weakened by another 140 points to 69.48
May 24 Cotton is at 86.45, up 20 points,
Jul 24 Cotton is at 88.13, up 31 points,
Dec 24 Cotton is at 82.43, down 22 points
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