Cotton Fading from Recent Highs


Following the strong Friday session, cotton is backing off by 33 to 96 points across the front month contracts on Monday. 

The weekly Commitment of Traders report showed managed money cotton traders dropped 6k existing shorts and added 11.6k new longs during the week that ended 2/6. That raised their net long to 46,344 contracts. Commercial cotton hedgers added 17.5k short hedges for a 90,540 contract net short as of 2/6. 

The Cotlook A Index for 2/9 was 97.40 cents/lb, up by another 55 points. The AWP is 70.04 cents/lb. ICE certified stocks were only 999 bales as of 2/6.

Mar 24 Cotton  is at 90.99, down 79 points,

May 24 Cotton  is at 91.78, down 44 points,

Jul 24 Cotton  is at 91.87, down 35 points

On the date of publication, Alan Brugler 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.