For Week Ending: 2/6/2015
Chart Source: barchart.com
Notes
ICE cotton dollar prices for March-15 closed around 260 points higher this week as prices finished at 61.59. The July-15 contract finished at 62.12. Open interest for March-15 is at 94,538 contracts. July-15 open interest is at 24,105. U.S. certified stocks equaled 40,945 while net export sales were at 422,800 RB. Managed money is net long. Short-term, technical traders see possible support around 60.50 with possible resistance around 62.20. The long-term trend is down.
Price
July-15 is at: 62.12
Cotlook ‘A’ Index is at: 68.60
Cash Sales
For 2/6/2015, the trading platform TheSeam.com reported an average cash price of: 56.57.
On March, that puts the average basis right at: -502 points.
Cash prices are averaging 9.44 cents over loan value.
(Vietnam was the big buyer at 162,600.)
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: 38,921 (Contracts)
- Short: 82,669
- Long: 47,390
- Short: 6,546
- Long: 53,431
- Short: 44,526
- Long: 20,449
- Short: 25,811
General View
Bearish to neutral
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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.