Cotton Futures Experience Minor Losses Amid Supportive Market Conditions

Cotton futures have recovered slightly from earlier lows, though they are still showing losses ranging from 1 to 8 points. The overall market appears supportive today, with the US dollar index declining by 425 points and crude oil futures increasing by $1.68 per barrel.

Recent data from the Commitment of Traders report revealed that speculator funds have increased their net short positions in cotton by 2,934 contracts as of November 12, bringing the total to 13,851 contracts.

On November 15, The Seam recorded online sales of 1,840 bales, with an average price of 72.51 cents per pound. Additionally, the Intercontinental Exchange (ICE) reported an increase of 1,123 bales in certified cotton stocks, totaling 13,187 bales. The Cotlook A Index dropped by 50 points as of November 15, now standing at 80.85 cents per pound. Meanwhile, the USDA Adjusted World Price (AWP) rose by 24 points last week to reach 58.20 cents per pound.

Mar 25 Cotton is currently priced at 68.9, down 1 point.

May 25 Cotton is trading at 70.24, down 4 points.

Jul 25 Cotton sits at 71.43, down 8 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 see the Barchart Disclosure Policy
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.