Chart Source: barchart.com
Notes
ICE cotton dollar prices for Dec. fell 49 points this week as prices pushed just shy of 64.00. U.S. certified stocks fell to 16,354 while net export sales were at 65,000 RB. Open interest for December stands at 75,092 with March open interest at 82,816. Conditions Report stated 48% of crop is good to excellent, compared to 48% last week, and 43% last year. 18% of the crop is poor to very poor, compared to 18% last week, and 23% this week last year. Managed money is net long. Technical traders see support around 63.00 with resistance around 65.50. The trend is down.
Price
December is at: 63.96
March is at: 62.61
Stocks and Sales
ICE Certified Cotton Stocks = 16,354. 15,926 last week
US Net Upland Export Sales = 65,000. 185,400 last week
(China was the big buyer at 29,200.)
(China was the big buyer at 29,200.)
Current World Balance Sheet (2014/2015)
Beginning Stocks: 101.31 (million 480 lb. bales)
Production: 119.37
Supply: 220.68
Mill Use: 113.68
Ending Stocks: 107.11
Ending Stocks/Mill Use Ratio: 94.22%
Current China Balance Sheet (2014/2015)
Beginning Stocks: 62.71 (million 480 lb. bales)
Production: 30.50
Imports: 7.00
Imports: 7.00
Supply: 100.21
Mill Use: 38.00
Ending Stocks: 62.16
Ending Stocks/Mill Use Ratio: 163.58%
Current USA Balance Sheet (2014/2015)
Beginning Stocks: 2.45 (million 480 lb. bales)
Production: 16.26
Exports: 10.00
Exports: 10.00
Supply: 18.71
Mill Use: 3.8
Ending Stocks: 4.9
Ending Stocks/Mill Use Ratio: 128.95%
Commitments of Traders
Producer / Merchant
- Long: 33,756 (Contracts)
- Short: 74,912
Swap Dealers
- Long: 53,465
- Short: 8,049
Managed Money
- Long: 48,027
- Short: 31,114
Other Reportables
- Long: 17,973
- Short: 37,785
General View
Bearish to neutral
*This is for informational purposes only, and not a recommendation to buy or sell.
There is substantial risk of loss to futures and options trading.
Past performance may not be indicative of future results.
One should carefully consider their financial suitability prior to trading futures or options.
*This is for informational purposes only, and not a recommendation to buy or sell.
There is substantial risk of loss to futures and options trading.
Past performance may not be indicative of future results.
One should carefully consider their financial suitability prior to trading futures or options.