Chart: barchart.com
Notes
ICE cotton dollar prices for Dec. rose a lackluster 39 points this week. U.S. certified stocks fell to 71,232 while net export sales were at 247,700 RB. Open interest for December stands at 111,571 with March open interest at 48,239. Conditions Report stated 51% of crop is good to excellent, compared to 50% last week, and 47% last year. 16% of the crop is poor to very poor, compared to 16% last week, and 20% this week last year. Managed money is net long. Technical traders see support around 65.00 with resistance around 68.00.
Price
December is at: 66.57
March is at: 67.01
Stocks and Sales
ICE Certified Cotton Stocks = 71,232. Down from 86,550 last week.
US Net Upland Export Sales = 247,700. Up from 155,600 RB last week.
(China was the big buyer at 68,500)
(China was the big buyer at 68,500)
Current World Balance Sheet (2014/2015)
Beginning Stocks: 99.96 (million 480 lb. bales)
Production: 117.64
Supply: 217.7
Mill Use: 112.6
Ending Stocks: 105.08
Ending Stocks/Mill Use Ratio: 93.32%
Current China Balance Sheet (2014/2015)
Beginning Stocks: 61.41 (million 480 lb. bales)
Production: 29.5
Imports: 8.00
Imports: 8.00
Supply: 98.91
Mill Use: 36.5
Ending Stocks: 62.36
Ending Stocks/Mill Use Ratio: 170.85%
Current USA Balance Sheet (2014/2015)
Beginning Stocks: 2.6 (million 480 lb. bales)
Production: 17.5
Exports: 10.70
Exports: 10.70
Supply: 20.1
Mill Use: 3.8
Ending Stocks: 5.6
Ending Stocks/Mill Use Ratio: 147.37%
Commitments of Traders
Producer / Merchant
- Long: 37,549 (Contracts)
- Short: 64,711
Swap Dealers
- Long: 48,088
- Short: 9,293
Managed Money
- Long: 36,749
- Short: 36,272
Other Reportables
- Long: 18,743
- Short: 28,278
View (Subject to Change in 24 Hours)
Bullish to neutral