Cotton futures closed the Wednesday session with contracts up 20 to 33 points on the day. Crude oil futures were $1.63 per barrel higher at $56.90. The US dollar index was $0.201 higher to $97.995.
Spec traders in cotton futures and options were trimming their net short position during the week ending on December 2 by 2,212 contracts. That took their net short to 59,787 contracts.
Tuesday’s online auction from The Seam showed sales of 5,155 bales at an average price of 61.24 cents/lb. The Cotlook A Index was up 5 points on 12/15 at 73.90 cents. ICE certified cotton stocks were down 78 bales on December 16 with the certified stocks level at 12,396 bales. The Adjusted World Price was updated to 50.39 cents/lb last week. It will be updated again on Thursday.
Mar 26 Cotton closed at 63.43, up 33 points,
May 26 Cotton closed at 64.53, up 27 points,
Jul 26 Cotton closed at 65.58, up 20 points
