Cotton Rebounds On Strong Jobs Report

Cotton futures are trading triple digits higher this morning, following a strong jobs report on Friday. They went into the holiday weekend with 219 to 293 point losses on Thursday. The Cotlook A index for 3/31 was 20 points higher at 87.40 cents/lb. USDA’s new AWP for cotton to 2.96 cents to 65.59 cents/lb.

USDA reported 1,008 RBs of cotton were used in February via the monthly Cotton System Consumption and Stocks report. The Feb stockpile was down to 3,180 RBs, representing a 315 Stocks to Use for Feb.

Commitment of Traders data released on Friday showed the managed money spec funds trimming their net long in cotton by 5,056 contracts in the week ending March 30. They were still net long 54,135 contracts of futures and options.

May 21 Cotton  closed at 77.95, but are now up 124 points,

Jul 21 Cotton  closed at 79.27, currently 136 points higher,

Dec 21 Cotton  closed at 77.91, down 219 points, but up 119 this morning




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