Cotton Cools Off for 3-Day Weekend

Cotton fabric with texture

Cotton futures faded into the weekend with Friday losses of 74 to 90 points. March was still up by 209 points for the week to the highest price since the May contract high at 96.97 cents. Dec rounded out the week with a net 86 point gain. 

 

CFTC reported managed money cotton traders were net new buyers during the week that ended 2/13. That grew their net long by 25k contracts to 71,559. The commercial hedgers were shown with 16k fewer longs and 13k new shorts on 2/13, which left them on a 119,795 contract net short. 

 

USDA’s weekly Cotton Market Review showed 26,614 bales were sold during the week, averaging 88.52 cents/lb. The Cotlook A Index was back over a dollar with a 195 point increase on 2/15 to 101.45 cents/lb. The updated AWP was listed at 73.44, another 340 points higher for the week. ICE certified stocks remained at 999 bales for 2/15. 

Mar 24 Cotton  is at 94.61, down by 2 points, 

May 24 Cotton  is at 95.23, down by 6 points, 

Jul 24 Cotton  is at 95.20, down by 13 points, 

Dec 24 Cotton  is at 84.48, down by 36 points,


On the date of publication, Alan Brugler 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.