Chart: barchart.com
Notes
ICE cotton dollar prices fell just shy of 200 points this week. Export sales were down around 31% from last week as U.S. certified stocks fell to 136,608 bales. Open interest for December stands at 122,320 with March open interest at 29,717. Conditions Report stated 54% of crop is good to excellent, compared to 52% last week, and 45% last year. 13% of the crop is poor to very poor, compared to 14% last week, and 22% this week last year. Managed money is net long. Technicians believe there is possible resistance around 60.55.
Price
December is at: 63.37
March is at: 63.91
Stocks and Sales
ICE Certified Cotton Stocks = 136,608. Down from 183,731 last week.
US Net Export Sales of 254,400 RB for 2014/2015 were reported. Down from 371,400 RB last week.
(China was the largest buyer at 104,700).
(China was the largest buyer at 104,700).
Current World Balance Sheet (2014/2015)
Beginning Stocks: 100.56 (million 480 lb. bales)
Production: 116.42
Supply: 216.98
Mill Use: 111.34
Ending Stocks: 105.68
Stocks/Use Ratio: 94.92%
Current China Balance Sheet (2014/2015)
Beginning Stocks: 61.31 (million 480 lb. bales)
Production: 29.5
Imports: 8.00
Imports: 8.00
Supply: 98.81
Mill Use: 36.5
Ending Stocks: 62.26
Stocks/Use Ratio: 170.58%
Current USA Balance Sheet (2014/2015)
Beginning Stocks: 2.7 (million 480 lb. bales)
Production: 16.5
Imports: .01
Imports: .01
Supply: 19.21
Mill Use: 3.8
Ending Stocks: 5.2
Stocks/Use Ratio: 37.1%
Commitments of Traders
Producer / Merchant
- Long: 30,812 (Contracts)
- Short: 63,351
Swap Dealers
- Long: 49,677
- Short: 8,289
Managed Money
- Long: 42,011
- Short: 34,767
Other Reportables
- Long: 15,119
- Short: 29,175
View (Subject to Change in 24 Hours)
Bearish
