Cotton futures bounced off the midday lows, but still closed with 14 to 55 points on Monday. Crude oil futures were back down $1.30/barrel, with the US dollar index collapsing $0.999 to $98.044.
NASS pegged the US cotton crop at 11% planted as of 4/20, now inline with the 5-year average pace.
CFTC Commitment of Traders data showed spec funds adding back 13,273 contracts to their net short position as of April 15 to 42,418 contracts.
The Seam reported 5,685 cash bales sold online on 4/17, at an average price of 62.50 cents/lb. The Cotlook A Index was back up 35 points on Friday at 77.60 cents/lb. ICE cotton stocks were steady on April 17 with a certified stocks level of 14,478 bales. USDA’s Adjusted World Price (AWP) was back up 33 points last Thursday to 53.43 cents/lb.
May 25 Cotton closed at 65.77, down 55 points,
Jul 25 Cotton closed at 66.82, down 31 points,
Dec 25 Cotton closed at 68.3, down 14 points
Source: barchart.com