Cotton Rallying Monday, with Outside Support

Austin Schroeder Barchart Mon Jun 2, 12:15PM CDT
Multicolored cotton fabric by Bruno via Pixabay

Cotton futures are trading with Monday gains of 95 to 138 points at midday. Crude oil prices are shooting higher, up $2.37, with the US dollar index down $0.449 to $98.810. 

Friday afternoon Commitment of Traders data showed specs adding back 3,180 contracts to their net short position as of May 27 to 43,219 contracts.

The Cotlook A Index was down another 45 points on 5/30 at 77.25. ICE cotton stocks were steady on May 30 with a certified stocks level of 43,006 bales. USDA’s Adjusted World Price (AWP) was back up 32 points last week at 53.84 cents/lb. 

Jul 25 Cotton  is at 66.44, up 138 points,

Oct 25 Cotton  is at 68.39, up 95 points,

Dec 25 Cotton  is at 68.72, up 97 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.