Cotton futures are falling back, with midday losses of 153 to 184 in the nearbys on Monday. Crude oil futures are down 52 cents/barrel. The US dollar index is continuing to fall, down $0.397 at $99.496.
CFTC data from Friday afternoon showed spec funds in cotton futures and options cutting 10,943 contracts from their net short position as of April 8 to 55,691 contracts.
The Seam reported just 31 cash bales sold on 4/11, at an average price of 56 cents/lb. The Cotlook A Index was down 25 points on Friday at 78.30 cents/lb. ICE cotton stocks were down 10 bales on decertification on April 11 to a certified stocks level of 14,478 bales. USDA’s Adjusted World Price (AWP) was back down 212 points last week to 53.10 cents/lb.
