Managed money is net long.
Short-term, technical traders see possible support around 63.50, possible resistance around 66.00.
The trend is down.
July-15 is at: 63.32 Volume = 3,643
Oct-15 is at: 65.06 Volume = 19
Dec-15 is at: 63.90 Volume = 16,013
March-16 is at: 64.03 Volume = 817
Cotlook ‘A’ Index is at: 71.85
Most recently, the trading platform TheSeam.com reported an average cash price of approximately: 63.20.
On Dec, that puts the average basis at approximately: –70 points.
Cash prices are averaging approximately 9.19 cents over loan value.
Stocks and Sales
(Vietnam was the big buyer at 21,500.)
Current World Balance Sheet (2015/2016)
Current China Balance Sheet (2015/2016)
Imports – Exports: 5.95
Current India Balance Sheet (2015/2016)
Imports – Exports: –4.1
Ending Stocks/Mill Use Ratio: 51.73%
Imports – Exports: -10.69
Producer / Merchant
- Long: 14,260 (Contracts)
- Short: 105,130
- Long: 58,456
- Short: 2,169
- Long: 52,082
- Short: 24,297
- Long: 14,354
- Short: 11,656
June Cotton Price Model: 62.55 cents
(*Note: This model does not attempt to forecast the future direction or level of cotton prices.)
General View
Bearish.
*This is for informational purposes only, and not a recommendation to buy or sell.