Chart: barchart.com
Notes
ICE cotton dollar prices for Dec. rose just over 80 points this week as prices pushed just shy of 64.50. U.S. certified stocks fell to 15,926 while net export sales were at 185,400 RB. Open interest for December stands at 93,540 with March open interest at 76,027. Conditions Report stated 48% of crop is good to excellent, compared to 47% last week, and 44% last year. 18% of the crop is poor to very poor, compared to 19% last week, and 24% this week last year. Managed money is net long. Technical traders see support around 63.50 with resistance around 65.50. The trend is up.
Price
December is at: 64.45
March is at: 62.92
Stocks and Sales
ICE Certified Cotton Stocks = 15,926. 15,928 last week
US Net Upland Export Sales = 185,400. 78,800 last week
(Indonesia was the big buyer at 32,900.)
(Indonesia was the big buyer at 32,900.)
Current World Balance Sheet (2014/2015)
Beginning Stocks: 101.31 (million 480 lb. bales)
Production: 119.37
Supply: 220.68
Mill Use: 113.68
Ending Stocks: 107.11
Ending Stocks/Mill Use Ratio: 94.22%
Current China Balance Sheet (2014/2015)
Beginning Stocks: 62.71 (million 480 lb. bales)
Production: 30.50
Imports: 7.00
Imports: 7.00
Supply: 100.21
Mill Use: 38.00
Ending Stocks: 62.16
Ending Stocks/Mill Use Ratio: 163.58%
Current USA Balance Sheet (2014/2015)
Beginning Stocks: 2.45 (million 480 lb. bales)
Production: 16.26
Exports: 10.00
Exports: 10.00
Supply: 18.71
Mill Use: 3.8
Ending Stocks: 4.9
Ending Stocks/Mill Use Ratio: 128.95%
Commitments of Traders
Producer / Merchant
- Long: 38,401 (Contracts)
- Short: 72,505
Swap Dealers
- Long: 52,578
- Short: 8,576
Managed Money
- Long: 46,076
- Short: 32,566
Other Reportables
- Long: 18,263
- Short: 39,387
General View
Bullish to neutral
*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.
*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.
