For Week Ending: 1/30/2015
Chart Source: barchart.com
Notes
ICE cotton dollar prices for March-15 closed around 80 points higher this week as prices finished at 59.36. The July-15 contract finished at 60.85. Open interest for March-15 is at 124,561 contracts. July-15 open interest is at 20,7396. U.S. certified stocks equaled 58,680 while net export sales were at 546,200 RB. Managed money is net short. Short-term, technical traders see possible support around 59.00 with possible resistance around 60.00. The long-term trend is down.
Price
July-15 is at: 60.85
Cotlook ‘A’ Index is at: 67.30
Cash Sales
For 1/30/2015, the trading platform TheSeam.com reported an average cash price of: 54.92.
On March, that puts the average basis right at: -444 points.
Cash prices are averaging 9.27 cents over loan value.
(China was the big buyer at 177,700.)
Current World Balance Sheet (2014/2015)
Imports – Exports: 6.95
Imports – Exports: -3.60
Ending Stocks/Mill Use Ratio: 60.08%
Current USA Balance Sheet (2014/2015)
Imports – Exports: -9.99
Commitments of Traders
- Long: 59,462 (Contracts)
- Short: 75,906
- Long: 44,856
- Short: 5,936
- Long: 50,223
- Short: 55,902
- Long: 18,859
- Short: 28,752
General View
Bearish
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*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.