Cotton prices showed gains of 81 to 104 points on Monday morning, recovering from losses on Friday where futures dropped by 50 to 70 points. The U.S. dollar index rose by 0.111 to 100.840, and crude oil prices increased by $0.79 per barrel. As of May 13, the weekly CFTC report indicated that money managers in cotton futures and options added 8,039 contracts to a net short position, totaling 29,088 contracts by the Tuesday close.
As of May 15, ICE cotton stocks were certified at 34,153 bales, up 1,053 bales from previous levels, while the Cotlook A Index decreased by 75 points to 77.25. USDA’s Adjusted World Price fell by 91 points to 53.90 cents per pound. Current cotton futures are as follows: July closed at 64.89 (down 54 points), October at 67.58 (down 69 points), and December at 67.67 (down 51 points).
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