Cotton futures are trading with contracts 22 to 56 points higher across the front months. The US dollar index is slipping 0.084 lower at $98.280. Crude oil is back up $2.24 to $96.65.
Spec traders were busy increasing their fresh bullish bet in cotton futures and options in the week ending on April 21 by another 17,639 contracts. That net long was 34,464 contracts by Tuesday, the largest in nearly 2 years.
The Seam showed 2,679 bales sold on April 24 at an average of 77.29 cents/lb. The Cotlook A Index was back up 95 points on 4/24 at 89.35 cents. ICE certified cotton stocks were steady on Friday, with the certified stocks level at 165,681 bales. The Adjusted World Price was up another 365 points on Thursday afternoon to 65.26 cents/lb.
May 26 Cotton is at 77.56, up 56 points,
Jul 26 Cotton is at 79.58, up 22 points,
Dec 26 Cotton is at 80.99, up 41 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.
