For Week Ending: 12/12/2014
Chart Source: barchart.com
Notes
ICE cotton dollar prices for March-15 closed about 40 points higher this week as prices finished at 60.54. The July-15 contract finished at 61.78. Open interest for March-15 increased to 122,454 contracts. July-15 open interest is at 10,170. U.S. certified stocks rose to 46,136 while net export sales were at 199,200 RB. Cotton Ginnings Report stated 10,248,250 bales has been ginned this year, compared to 8,259,650 this week last year, and 12,262,500 this week in 2012. Managed money is net short. Short-term, technical traders see possible support around 60.00 with possible resistance around 61.50. The trend is down.
Price
July-15 is at: 61.78
Cotlook ‘A’ Index is at: 68.60
Cash Sales
For 12/12/2014, the trading platform TheSeam.com reports a current cash price average of: 57.88.
On March, that puts our average basis right at: -266 points.
Stocks and Sales
(Indonesia was the big buyer at 77,200.)
Current World Balance Sheet (2014/2015)
Imports – Exports: 6.95
Imports – Exports: -3.90
Ending Stocks/Mill Use Ratio: 60.92%
Current USA Balance Sheet (2014/2015)
Imports – Exports: -9.99
Commitments of Traders
- Long: 32,945 (Contracts)
- Short: 64,191
- Long: 48,698
- Short: 2,941
- Long: 43,524
- Short: 44,897
- Long: 16,537
- Short: 25,490
General View
Bearish
*This is for informational purposes only, and not a recommendation to buy or sell.
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Past performance may not be indicative of future results.
One should carefully consider their financial suitability prior to trading futures or options.