Chart: barchart.com
Notes
ICE cotton dollar prices fell around 200 points this week. Export sales were up just over 8% from last week as U.S. certified stocks rose to 183,731 bales. Open interest for December stands at 121,909 with March open interest at 27,241. Conditions Report stated 52% of crop is good to excellent, compared to 53% last week, and 44% last year. 14% of the crop is poor to very poor, the same as last week, and also this week last year. Managed money is net long. Technicians believe there is possible resistance around 62.00.
Price
December is at: 65.35
March is at: 66.03
March is at: 66.03
Stocks and Sales
ICE Certified Cotton Stocks = 183,731. Down from 311,060 last week.
US Net Export Sales of 371,400 RB for 2014/2015 were reported. Up from 342,800 RB last week.
(Turkey was the largest buyer at 172,000).
(Turkey was the largest buyer at 172,000).
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/Demand Ratio: 136.84%
Commitments of Traders
Producer / Merchant
- Long: 23,819 (Contracts)
- Short: 64,388
Swap Dealers
- Long: 51,272
- Short:8,615
Managed Money
- Long: 40,700
- Short: 32,265
Other Reportables
- Long: 14,825
- Short: 24,182
View (Subject to Change in 24 Hours)
Bearish
