Cotton Recovering Higher at Midday


The cotton market is showing 65 to 106 point gains on Monday as futures recover from the recent collapse. 

Commitment of Traders data confirmed a mass exodus of the managed money long in cotton futures in options in the week that ended on 4/16, of 25,890 contracts. That was the largest Tuesday/Tuesday bear move since CFTC started the data series back in 2006 taking the net long down to just 36,142 contracts.

ICE certified cotton stocks were up another 527 bales on April 19 at 176,610 bales. The Cotlook A Index was down another 80 points to 86.55 cents/lb on April 19. The AWP dropped another 325 points to 62.18 yesterday and is good through this Thursday.

May 24 Cotton  is at 79.41, up 72 points,

Jul 24 Cotton  is at 82.08, up 106 points,

Dec 24 Cotton  is at 78.2, up 65 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.