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March Cotton Firm on Thin OI

Barchart - Fri Feb 23, 12:30PM CST

Cotton prices are fading into the weekend, though the board is mixed as March is up by 91 points. March has just 409 contracts of open interest left. New crop futures are down by less than 30 points. 

CFTC had unfixed call sales listed at 70,070 contracts as of 2/16, down slightly from the week prior according to Thursday’s Cotton On-Call report . There were 6,470 contracts that rolled out to the March, with the May now at 23,395 contract and 22,528 contracts for July. Unfixed call purchases were at 49,176 contracts as of last Friday, down 3,076 contracts from the week prior. A majority of those are in the December contract (31,406).

USDA’s weekly cotton export sales were 130.5k RBs for the week that ended 2/15. That was down from 160k RBs last week as a 9-wk low for new business. Shipments were 255.5k RBs taking the season’s total export to 5.07m RBs, and the season’s total commitments to 10.4m RBs. USDA also mentioned 255k RBs sold for new crop.


The Cotlook A Index was 230 points weaker to 99.30 cents/lb. The updated AWP was listed at 73.44, another 340 points higher for the week. ICE certified stocks were 997 bales as of 2/21. 

Mar 24 Cotton  is at 95.11, up 91 points,

May 24 Cotton  is at 93.41, down 105 points,

Jul 24 Cotton  is at 92.52, down 110 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.

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