Cotton Higher at Midday

Austin Schroeder Barchart Mon Sep 30, 12:01PM CDT
Cotton Fabric and Textiles on Spools

Cotton futures are up 60 to 70 cents at Monday’s midday. The dollar index is up 231 points, with crude oil futures 40 cents/barrel higher to provide some outside support. Rains late last week and over the weekend have likely impacted a few cotton acres in the southeast.

Commitment of Traders data from CFTC showed spec traders in cotton futures and options slashing 12,969 contracts from their net short as of Tuesday to 17,549 contracts. 

The Seam reported just 47 online cash cotton bale sales on Friday, averaging 71.40 cents/lb. ICE cotton stocks were unchanged on September 27, leaving 265 bales of certified stocks. The Cotlook A Index was down 25 points on September 27 at 84.65 cents/lb. The USDA Adjusted World Price (AWP) was raised by 223 points last Thursday to 61.06 cents/lb. 

Dec 24 Cotton  is at 73.4, up 68 points,

Mar 25 Cotton  is at 75.13, up 61 points,

May 25 Cotton  is at 76.23, up 62 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.