Chart: barchart.com
Notes
ICE cotton dollar prices for Dec. fell 363 points this week as prices pulled back from recent highs. U.S. certified stocks fell to 44,513 while net export sales were at 75,000 RB. Open interest for December stands at 108,366 with March open interest at 55,329. Conditions Report stated 49% of crop is good to excellent, compared to 49% last week, and 43% last year. 18% of the crop is poor to very poor, compared to 17% last week, and 24% this week last year. Managed money is net long. Technical traders see support around 63.00 with resistance around 67.00.
Price
December is at: 64.37
March is at: 64.24
Stocks and Sales
ICE Certified Cotton Stocks = 44,513. Down from 53,056 last week.
US Net Upland Export Sales = 75,000
(Mexico was the big buyer at 23,600)
(Mexico was the big buyer at 23,600)
Current World Balance Sheet (2014/2015)
Beginning Stocks: 100.3 (million 480 lb. bales)
Production: 118.01
Supply: 218.31
Mill Use: 112.12
Ending Stocks: 106.29
Ending Stocks/Mill Use Ratio: 94.8%
Current China Balance Sheet (2014/2015)
Beginning Stocks: 61.96 (million 480 lb. bales)
Production: 29.5
Imports: 8.00
Imports: 8.00
Supply: 99.46
Mill Use: 36.5
Ending Stocks: 62.91
Ending Stocks/Mill Use Ratio: 172.35%
Current USA Balance Sheet (2014/2015)
Beginning Stocks: 2.45 (million 480 lb. bales)
Production: 16.54
Exports: 10.00
Exports: 10.00
Supply: 18.99
Mill Use: 3.8
Ending Stocks: 5.2
Ending Stocks/Mill Use Ratio: 136.84%
Commitments of Traders
Producer / Merchant
- Long: 41,576 (Contracts)
- Short: 73,209
Swap Dealers
- Long: 52,675
- Short: 7,855
Managed Money
- Long: 40,388
- Short: 30,479
Other Reportables
- Long: 17,017
- Short: 38,908
View (Subject to Change in 24 Hours)
Bearish