Cotton Mixed at Midday
Cotton futures are mixed so far on Monday’s midday, with contracts up 17 points to down 8. Crude oil prices are under pressure, down $1.30 as OPEC+ announce another 411,000 barrel per day increase in June. The US dollar index is down $0.100 to $99.740
Commitment of Traders data from Friday afternoon showed a total of 11,206 contracts cut back from the spec net short position to 26,231 contacts by Tuesday.
The 5/2 online auction from The Seam showed sales of 1,133 bales at an average price of 60.17 cents/lb. The Cotlook A Index was down 25 points on Friday at 77.25. ICE cotton stocks were unchanged on May 2 with a certified stocks level of 14,577 bales. USDA’s Adjusted World Price (AWP) was up 6 points last week to 54.94 cents/lb. It is in effect through this Thursday.
May 25 Cotton is at 70.35, up 17 points,
Jul 25 Cotton is at 68.33, down 8 points,
Dec 25 Cotton is at 69.88, up 17 points
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.