Cotton prices are 112 to 151 points higher so far on Monday. The US dollar index is down another 482 points and below $102, with crude oil losing $1.25 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.
ICE cotton stocks were down another 2,759 bales on August 16 on decertification, leaving 12,767 bales of cert stocks. The Cotlook A Index was back up 15 points on August 16 to 78.60 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 is at 68.75, up 151 points,
Mar 25 Cotton is at 70.1, up 136 points,
May 25 Cotton is at 71.26, up 127 points
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