Cotton Slipping Back Lower on Tuesday

Cotton futures are trading with contracts own 50 yo 60 points in the front months.  Crude oil is down 33 cents per barrel on the day, with the US dollar index slipping $0.270. 

CFTC data showed managed money closing in on a record net long in cotton futures and options as of Tuesday, raising the position by 12,135 contracts to 107,976 contracts. 

The Cotlook A index was unchanged on September 7 at 96.00. ICE certified cotton stocks were down 8,678 bales on decertification on Friday, with the certified stocks level at 54,414 bales. The Adjusted World Price was raised by another 240 points on Thursday to 73.92 cents/lb.

Oct 26 Cotton  is at 82.66, up 24 points,

Dec 26 Cotton  is at 85.8, down 53 points,

Mar 27 Cotton  is at 88.06, down 56 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.