For Week Ending: 1/16/2015
Chart Source: barchart.com
Notes
ICE cotton dollar prices for March-15 closed right at 140 points lower this week as prices finished at 59.23. The July-15 contract finished at 60.90. Open interest for March-15 is at 127,105 contracts. July-15 open interest is at 18,907. U.S. certified stocks equaled 38,356 while net export sales were at 441,800 RB. Managed money is net long. Short-term, technical traders see possible support around 58.80 with possible resistance around 60.00. The long-term trend is down.
Price
July-15 is at: 60.90
Cotlook ‘A’ Index is at: 67.50
Cash Sales
For 1/16/2015, the trading platform TheSeam.com reported an average cash price of: 55.97.
On March, that puts the average basis right at: -326 points.
Cash prices are averaging 9.49 cents over loan value.
Stocks and Sales
(China was the big buyer at 184,500.)
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: 41,866 (Contracts)
- Short: 74,749
- Long: 45,017
- Short: 6,533
- Long: 49,260
- Short: 42,675
- Long: 17,165
- Short: 24,638
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.
