Cotton prices are up 94 to 104 points so far on Monday. Futures settled the Friday session on a mixed note, as contracts were anywhere from 54 points higher to 13 points lower. The US dollar index was down 558 points, with crude oil losing $1.41 per barrel.
The large managed money spec funds were net short 49,454 contracts ad of Tuesday, a 2,570 contract reduction on the week.
USDA’s Export Sales report showed 4.213 million RB of cotton sold or shipped so far for the 2024/25 marketing year. That is 37% of the current USDA export projection from the WASDE balance sheet and 12 percentage points behind the 5-year average pace.
ICE cotton stocks were unchanged on August 15, leaving 15,526 bales of cert stocks. The Cotlook A Index was down another 100 points on August 15 to 78.45 cents/lb. The USDA Average World Price (AWP) is 55.35 cents/lb for the next week through Thursday, up 11 points on the week.
Dec 24 Cotton closed at 67.24, up 9 points, currently up 99 points
Mar 25 Cotton closed at 68.74, up 2 points, currently up 101 points
May 25 Cotton closed at 69.99, down 5 points, currently to 100 points
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