Chart: barchart.com
Notes
ICE cotton dollar prices for Dec. fell 226 points this week as prices pushed back toward recent lows. U.S. certified stocks fell to 66,982 while net export sales were at 82,900 RB. Open interest for December stands at 110,779 with March open interest at 50,302. Conditions Report stated 50% of crop is good to excellent, compared to 51% last week, and 45% last year. 16% of the crop is poor to very poor, compared to 16% last week, and 23% this week last year. Managed money is net short. Technical traders see support around 63.00 with resistance around 65.00.
Price
December is at: 64.31
March is at: 64.14
Stocks and Sales
ICE Certified Cotton Stocks = 66,982. Down from 71,232 last week.
US Net Upland Export Sales = 82,900. Down from 247,700 RB last week.
(Turkey was the big buyer at 20,700)
(Turkey was the big buyer at 20,700)
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: 38,676 (Contracts)
- Short: 64,454
Swap Dealers
- Long: 49,575
- Short: 8,253
Managed Money
- Long: 38,279
- Short: 38,381
Other Reportables
- Long: 16,414
- Short: 28,693
View (Subject to Change in 24 Hours)
Bearish