For Week Ending: 12/19/2014
Chart Source: barchart.com
ICE cotton dollar prices for March-15 closed 35 points higher this week as prices finished at 60.89. The July-15 contract finished at 62.14. Open interest for March-15 increased to 122,727 contracts. July-15 open interest is at 10,500. U.S. certified stocks rose to 55,852 while net export sales were at 89,500 RB. Managed money is net long. Short-term, technical traders see possible support around 59.50 with possible resistance around 61.60. The long-term trend is down.
July-15 is at: 62.14 61.78 last week
Cotlook ‘A’ Index is at: 69.35
For 12/19/2014, the trading platform TheSeam.com reported an average cash price of: 56.93.
On March, that puts the average basis right at: -396 points.
Cash prices are averaging 8.67 cents over loan value.
Stocks and Sales
(China was the big buyer at 54,700.)
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: 35,913 (Contracts)
- Short: 66,208
- Long: 45,231
- Short: 3,526
- Long: 45,886
- Short: 44,231
- Long: 16,523
- Short: 24,647
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.