Cotton

Cotton futures are down another 15 to 57 points today, after July posted losses of 5.03% last week. The new AWP is 67.31 cents/lb through Thursday, down 72 points from the previous week. China sold 19,500 MT of cotton offered at an auction of state reserves on Monday, after selling 91,200 MT of the 150,200 MT offered last week. The COT report showed managed money continuing to decrease their net long position in cotton futures and options by 11,012 contracts to 68,915 contracts as of Tuesday. This is the smallest net long position for the funds since mid-November 2016. The Cotlook A index for June 16 was down 130 points to 83.40 cents/lb.

Jul 17 Cotton is at 71.68, down 20 points,

Oct 17 Cotton is at 70.71, down 15 points

Dec 17 Cotton is at 68.81, down 55 points

Mar 18 Cotton is at 68.850, down 57 points




Market Commentary provided by:

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