Cotton Weaker Despite Outside Market Strength

Austin Schroeder Barchart Mon Nov 4, 12:06PM CST
Cotton yarn via Kelly Sikkema via Unsplash

Cotton futures are back down on Monday, with contracts down 16 to 20 points in the nearbys at midday. The outside markets are supportive, with crude oil up $2.08/barrel and the US dollar index 478 points lower.

Friday’s Commitment of Traders report showed speculators in cotton futures and options adding back 4,455 contracts to their net long as of October 29 at 10,649 contracts.

The Seam reported 3,799 bales of online sales on November 1 at an average price of 68.44 cents/lb. ICE cotton stocks were unchanged on Friday, leaving 174 bales of certified stocks. The Cotlook A Index was down 35 points on 11/1 at 81.70 cents/lb. The USDA Adjusted World Price (AWP) was down 74 points to 58.54 cents/lb per last Thursday afternoon’s update.

Mar 25 Cotton  is at 72.15, down 18 points,

May 25 Cotton  is at 73.63, down 20 points,

Jul 25 Cotton  is at 74.88, down 16 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.