Market Analytics and Technical Considerations
Key Points
Beginning the week with gains ranging from 57 to 87 points, cotton. Cotton futures retraced and ended the week with declines ranging from 138 to 165 points. Since the futures remained up a net 3 cents per pound as from preceding Friday, the weekly rise for March was only limited.
On 11/29, managed money cotton traders were 14,913 futures net long according to the weekly Commitment of Traders data release. It was a net long week to week thinner by 2,366 contracts, led by fresh selling. Through the course of the week, commercial cotton hedgers decreased their overall short by 3,022 contracts to 36,503.
10,715 bales have been traded at spot prices for the week ending on 12/1, according to the weekly Cotton Market Review. The USDA reported a median selling price of 80.81 cents for the week. On 12/1, the Cotlook A Index increased by 380 points to $1.02 90/100. The week’s FSA revised AWP is 73.03 cents/lb, a decrease of 158 points.
- Dec. 22 Cotton finished at 84.28, down 165 points, and is now 107 points higher.
- Mar. 23 Cotton closed at 83.2, off 165 points, and is presently 87 points higher.
- May 23, Cotton Closing at 82.56 on was down 159 points but is now up 87 points.
Simple Moving Average- Daily
|
Name |
MA5 |
MA10 |
MA20 |
MA50 |
MA100 |
MA200 |
|
US Cotton #2 |
83.63 |
82.24 |
84.33 |
83.65 |
92.90 |
110.78 |
