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Cotton Extending Losses into Monday![]() Cotton futures are trading Monday with losses of 38 to 46 points in the front months. The outside markets are mixed factors, as crude oil futures are up 8 cents/barrel on the day, with the US dollar index up 593 points on the day. CFTC data showed speculators adding 5,135 contracts to their net short in cotton futures and options as of January 28. That took them to a record net short of 53,574 contracts. The Seam reported 1,380 bales of online sales on January 31 at an average price of 60.10 cents/lb. ICE cotton stocks were unchanged on Friday, at 218 bales of certified stocks. The Cotlook A Index was down another 50 points on 1/31 at 77.30 cents/lb. The USDA Adjusted World Price (AWP) was back up 31 points from the previous week last Thursday afternoon at 54.02 cents/lb. Mar 25 Cotton is at 65.5, down 38 points, May 25 Cotton is at 66.59, down 45 points, Jul 25 Cotton is at 67.77, down 46 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. |
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