Cotton prices are kicking off the week with stronger trade, up 54 to 73 points on Monday morning. Crude oil futures are back up 28 cents/barrel, with the US dollar index steady so far on the day.Â
CFTC data via the weekly Commitment of Traders report showed a total of 3,095 contracts trimmed by the spec traders from their net short in cotton futures and options as of 2/18 to 57,386 contracts.Â
USDA will release their initial arm chair estimates for the 2025 cotton crop in their Outlook Forum on later this week. A survey of analysts by Bloomberg shows an average of 10 million planted acres for cotton this year, with a range of 8.8 to 10.8 million acres and down from 11.2 million last year.Â
ICE cotton stocks were unchanged on Friday at 1,732 bales of certified stocks. The Seam tallied 5,276 bales in February 21 online sales, with an average price of 62.13 cents/lb. The Cotlook A Index was down another 25 points on Thursday at 78.05 cents/lb. The USDA raised their Adjusted World Price (AWP) last Thursday by 68 points to 54.67 cents/lb.
Mar 25 Cotton  is at 66.81, up 73 points,
May 25 Cotton  is at 67.93, up 59 points,
Jul 25 Cotton  is at 68.85, up 54 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.
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