Cotton -marianne-krohn-RNqZbnBnMQk-unsplash
The midday cotton market is down 97 to 142 points going into the weekend.
The latest CFTC data, as of 3/7’s settlement, had managed money traders 2,902 contracts net short. That was a lighter net short than the week prior as 2.6k shorts were closed through the week and 1.5k new spec longs were added. At the time, commercial cotton hedgers were 32,705 contracts net short – a 2,542 stronger net short than the week prior.
The Cotlook A Index dropped 225 points on 3/16 to 93.55 cents. The USDA’s FSA lowered the AWP for cotton by 337 points to 68.58 cents/lb.
May 23 Cotton is at 77.44, down 172 points,
Jul 23 Cotton is at 78.2, down 150 points,
Dec 23 Cotton is at 79.2, down 143 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.
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