Cotton Heads into the Weekend on a Lower Note

Austin Schroeder Barchart Fri Feb 7, 5:04PM CST
Closeup of cotton plant via bobbycrim via Pixabay

Cotton futures posted nearby losses of 40 to 41 points on Friday, with March down 25 points on the back and forth week. The outside markets were mixed factors, as crude oil futures were up $0.43/barrel. The US dollar index was adding the pressure, up $0.428 on the day.

Commitment of Traders data from CFTC showed specs adding to their record net short position in cotton futures and options as of Tuesday by 8,833 contracts. As of February 4, they were net short 62,407 contracts.

Export Sales data from USDA showed cotton marketing year sales at 8.886 million RB, a reduction of 12% from the same period last year. That is 86% of USDA’s estimated export total, lagging the 88% average sales pace. 

The Seam reported 5,001 bales of online sales on February 6 at an average price of 61.12 cents/lb. ICE cotton stocks were unchanged on Thursday, at 218 bales of certified stocks. The Cotlook A Index was down 85 points on 2/6 at 77.20 cents/lb. The USDA Adjusted World Price (AWP) was back down 84 points on Thursday at 53.18 cents/lb. 

Mar 25 Cotton  closed at 65.63, down 40 points,

May 25 Cotton  closed at 66.82, down 40 points,

Jul 25 Cotton  closed at 67.96, down 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.