For Week Ending: 12/5/2014
Chart Source: barchart.com
Notes
ICE cotton dollar prices for March-15 closed down slightly this week as prices finished at 59.64. The July-15 contract finished at 61.23. Open interest for March-15 increased to 125,415 contracts. July-15 open interest is at 10,721. U.S. certified stocks rose to 40,088 while net export sales were at 167,000 RB. Crop Progress Report stated 77% of crop was harvested, compared to 69% last week, and 77% this week last year. The 2009 – 2013 average at this time is 83%. Managed money is net short. Technical traders see possible support around 58.00 with possible resistance around 61.00. The trend is down.
Price
July-15 is at: 61.23
Cash Sales
For 12/5/2014, the trading platform TheSeam.com reports a current cash price average of: 56.93.
On March, that puts our average basis right at: -271 points.
Stocks and Sales
(China was the big buyer at 38,000.)
Current World Balance Sheet (2014/2015)
Imports: 7.00
Imports: 0.80
Ending Stocks/Mill Use Ratio: 55.59%
Current USA Balance Sheet (2014/2015)
Exports: 10.00
Commitments of Traders
- Long: 36,430 (Contracts)
- Short: 63,899
- Long: 46,877
- Short: 3,878
- Long: 42,709
- Short: 45,938
- Long: 19,335
- Short: 27,628
General View
Bearish
*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.