For Week Ending: 1/9/2015
Chart Source: barchart.com
Notes
ICE cotton dollar prices for March-15 closed right at 55 points higher this week as prices finished at 60.76. The July-15 contract finished at 61.35. Open interest for March-15 is at 121,196 contracts. July-15 open interest is at 14,087. U.S. certified stocks equaled 50,875 while net export sales were at 149,900 RB. Managed money is net long. Short-term, technical traders see possible support around 60.00 with possible resistance around 61.50. The long-term trend is down.
Price
July-15 is at: 61.35
Cotlook ‘A’ Index is at: 68.45
Cash Sales
For 1/9/2015, the trading platform TheSeam.com reported an average cash price of: 57.05.
On March, that puts the average basis right at: -371 points.
Cash prices are averaging 8.90 cents over loan value.
Stocks and Sales
(China was the big buyer at 69,600.)
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: 41,429 (Contracts)
- Short: 76,232
- Long: 43,957
- Short: 6,208
- Long: 47,635
- Short: 39,825
- Long: 17,009
- Short: 24,579
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.