Cotton futures are mostly lower on Monday, with contracts down 30 to 35 points so far at midday. The US dollar index is down $0.224 on the day to $97.600, with crude oil futures falling $2.41.
Commitment of Traders data showed the managed money crowd in cotton futures and options increasing their bearish bet as of September 23rd by 2,943 contracts, taking their net short to 62,004 contracts.
Friday’s online auction from The Seam showed 1,187 sales at an average price of 62.46 cents/lb. The Cotlook A Index was steady at 77.70 cents on September 26. ICE cotton stocks were again steady on 9/26, with the certified stocks level at 15,474 bales. USDA’s Adjusted World Price (AWP) was back down 41 points last week at 54.38 cents/lb.
