Cotton futures showed significant gains on April 10, with contracts increasing by 40 to 66 points at midday. Managed money reduced its net short position in cotton futures and options by 10,206 contracts in the week ending April 7, bringing its net short to just 2,020 contracts. The Seam reported 3,340 bales sold at an average price of 68.29 cents per pound.
The Cotlook A Index rose by 170 points to 84.25 cents on the same day, while ICE certified cotton stocks increased by 4,360 bales, totaling 144,211 bales. The Adjusted World Price also saw a rise of 175 points, reaching 58.74 cents per pound. For specific contracts, May 26 cotton is up 61 points at 73.83, July 26 at 75.99 (up 66 points), and December 26 at 77.3 (up 41 points).
