Cotton Close Friday Mixed

Cotton - kolya-korzh-zrVY4blkWI4-unsplash

Cotton futures were mixed when the final ICE bell rang on Friday, as July was down 38 points, with other nearby contracts up 2 to 35 points. July was down 287 points on the week, with December slipping just 75 points lower. Deferred contracts slipped 8 to 34 points. The US Dollar Index was up 318 points on the session, with crude oil down 7 cents/barrel.

Spec funds in cotton futures and options keep piling onto the short side, with CFTC data showing an increase of 11,827 contracts to their net short. They position was pegged at 35,735 contracts as of Tuesday, the largest since the fall of 2019.

The ICE certified cotton stocks were up 1,038 bales on June 11 at 138,247 bales. There were 704 decerts, with 2,069 bales awaiting review. The Cotlook A Index was back down 85 points on June 13 at 81.85 cents/lb. The USDA Average World Price (AWP) went down 81 points this week to 57.32 cents per pound. That is effective through next Thursday. 

Jul 24 Cotton  closed at 70.97, down 38 points,

Dec 24 Cotton  closed at 72.14, up 35 points,

Mar 25 Cotton  closed at 73.43, up 12 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.