Cotton Futures Rise Amid Mixed Market Conditions

At midday on Tuesday, cotton futures are on the rise, with prices steady to 9 points higher. Several external factors are influencing the market: the US dollar index has increased by 427 points, while crude oil is up $0.81 per barrel. Please note that the market will be closed on Wednesday for New Year’s Day.

Market Position Shifts

Recent Commitment of Traders data indicates that traders added a total of 6,263 contracts to their net short position as of December 24. This adjustment brought the net short position up to 35,520 contracts.

Sales and Stock Data

The Seam reported 9,870 bales of online sales on December 30, achieving an average price of 61.36 cents per pound. On the same day, ICE cotton stocks held steady at 20,113 bales of certified stocks. Additionally, the Cotlook A Index increased by 10 points on December 30, reaching 79.40 cents per pound. Meanwhile, the USDA Adjusted World Price (AWP) saw a reduction of 54 points last week, settling at 54.55 cents per pound, which will remain in effect until this Thursday.

Current Cotton Futures Prices

Mar 25 Cotton is priced at 68.55, up 7 points.

May 25 Cotton is at 69.67, marking an increase of 8 points.

Jul 25 Cotton has risen to 70.68, up 9 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.