Cotton futures are up 107 to 118 points at midday. The outside markets are being ignored, with crude oil down $1.76/barrel and the dollar index up 291 points. Cotton country is expected to be fairly dry over the next week, with scattered totals in the Southeast.
CFTC data showed managed money spec funds in cotton futures and options adding 4,357 contracts to their net short as of July 23 at 44,583 contracts.
ICE cotton stocks were down 9,281 bales on July 26 via decertification, leaving 28,745 bales of cert stocks. The Cotlook A Index was up 25 points on July 26 at 79.30 cents/lb. The USDA Average World Price (AWP) was cut by 140 points to 55.02 cents/lb, and is in effect through this Thursday.
Dec 24 Cotton is at 69.17, up 118 points,
Mar 25 Cotton is at 70.91, up 115 points,
May 25 Cotton is at 72.2, up 107 points
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