Cotton futures are showing gains of 13 to 42 points across most contracts at midday Friday. Crude oil futures rose 50 cents per barrel to $58.56 on the day, with the US dollar index up $0.027 to $100.140.
Trader commitment data, which is still delayed due to the government shutdown, showed spec funds in cotton futures and options adding another 11,586 contracts to their net short positions as of 10/7 to 76,326 contracts.
The Seam’s 11/20 online auction showed 4,368 bales sold for an average price of 60.77 cents per pound. The Cotlook A was unchanged on November 21 at 74.00 cents. ICE certified cotton inventories remained steady on Friday with the certified inventories level at 20,344 bales. The revised international price was updated to 50.80 cents per pound on Thursday, down 103 points from the previous week. It goes into effect until Thursday.
December 25: Cotton at 61.48, up 13 points.
March 26 Cotton at 64.27, up 42 points
May 26 Cotton at 65.46, up 39 points
On the date of publication, Austin Schroder had no positions (either directly or indirectly) in any of the securities mentioned in this article. All information and data contained in this article are for informational purposes only. This article was originally published on parchart.com
The post Cotton Trading Higher Through Midday first appeared on Investorempires.com.
