Cotton

Cotton futures are trading 27 to 116 points higher this morning. They ended the day with strong gains in most nearby contracts on Monday. Spec funds in cotton futures and options added 5,531 contracts to their net long position as of last Tuesday Feb 27. That position was at 71,677 contracts on that date. Bulls apparently believe any Chinese response to US steel tariffs will be in soybeans and not in cotton. The Adjusted World Price or AWP was updated to 73.09 cents/lb on Thursday, up 340 points from the previous week. The Cotlook A index was down 120 points from the previous day on March 2 at 91.20 cents/lb.




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