Cotton Holding Higher at Midday

Austin Schroeder Barchart Mon Mar 10, 11:44AM CDT
Cotton grass by Christiane via Pixabay

Cotton futures are showing midday gains of 15 to 45 points on Monday.  March futures expired today. The outside markets are pressure factors, with crude oil futures down 74 cents/barrel and the US dollar index back up $0.048 so far on the day.

CFTC data showed specs in cotton futures and options adding to their record net short as of March 4, by another 11,504 contracts. As of Tuesday, their net short was a record 79,957 contracts. 

Thursday’s online auction from The Seam saw 1,936 bales sold, with an average price of 62.29 cents/lb. The Cotlook A Index was back up 150 points on 3/6 at 76.95 cents/lb. ICE cotton stocks were steady on March 7 with the current level of certified stocks at 14,488 bales. The USDA slashed their Adjusted World Price (AWP) last Thursday afternoon by 201 points to 51.88 cents/lb. 

May 25 Cotton  is at 66.22, up 15 points,

Jul 25 Cotton  is at 67.42, up 27 points,

Oct 25 Cotton  is at 68.62, up 42 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.