For Week Ending: 1/2/2015
Chart Source: barchart.com
Notes
ICE cotton dollar prices for March-15 closed near 250 points lower this week as prices finished at 59.58. The July-15 contract finished at 61.23. Open interest for March-15 is at 120,821 contracts. July-15 open interest is at 10,832. U.S. certified stocks equaled 51,142 while net export sales were at 89,400 RB. Managed money is net long. Short-term, technical traders see possible support around 58.50 with possible resistance around 61.00. The long-term trend is down.
Price
July-15 is at: 61.23
Cotlook ‘A’ Index is at: 68.55
Cash Sales
For 1/2/2014, the trading platform TheSeam.com reported an average cash price of: 59.75 (B2B only).
On March, that puts the average basis right at: -17 points.
Cash prices are averaging 7.98 cents over loan value.
Stocks and Sales
(Vietnam was the big buyer at 36,200.)
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: 35,116 (Contracts)
- Short: 76,763
- Long: 45,720
- Short: 5,634
- Long: 48,566
- Short: 36,981
- Long: 15,455
- Short: 24,212
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.