Cotton prices are down 55 to 137 points so far on Monday morning. Futures settled the Friday session with contracts up 12 to 25 points. The outside markets were mixed with crude oil down $2.08/barrels. Strength was coming in the form of a sharply lower dollar index, down 1205 points.
Data from the CFTC indicated spec funds paving their way to a record net short in cotton futures and options as of July 30, an increase of 2,858 contracts on the week. Their record net short stood at 47,411 contracts by that date.
The Seam reported another round of online cash cotton sales on August 1 of 125 bales this time at an average price of 50.26 cents. ICE cotton stocks were down 7,420 bales on decertification on August 1, leaving 19,343 bales of cert stocks. The Cotlook A Index was down 50 points on August 1 at 80.35 cents/lb. The USDA Average World Price (AWP) was cut by 108 points on Thursday afternoon to 53.94 cents/lb, and is in effect starting Friday through next Thursday.
Dec 24 Cotton closed at 68.25, up 17 points, currently down 112 points
Mar 25 Cotton closed at 69.87, up 17 points, currently down 104 points
May 25 Cotton closed at 71.14, up 16 points, currently down 98 points
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