Cotton is trading 83 to 131 points higher following overnight action. Futures were down 17 to 75 points in most contracts on Friday’s close. Crude oil backed off the early strength to close with gains of just 44 cents. Oil had a muted reaction to rising Middle East tensions over the weekend, with Iran issuing a major attack on Israel, though causing little actual damage because US, UK and French vessel intervened and shot down many of the incoming missiles and drones. The US dollar index was up 756 points on the day. 

The Cotton On-Call report from CFTC showed unfixed call sales at 10,572 contracts for May as of 4/5, a 4,198 drop from the week previous. For July, unfixed call sales are 22,995 contracts, with the total at 68,015 contracts.  

Friday afternoon’s Commitment of Traders report showed spec fund longs with a mass exodus, as the net long position was down 18,556 contracts to 62,032 contracts as of last Tuesday.

The Cotlook A Index was back down 75 points to 91.40 cents/lb on April 11. The AWP dropped another 405 points to 65.43 yesterday and is good through next week.

May 24 Cotton  closed at 82.62, down 75 points, currently up 128 points

Jul 24 Cotton  closed at 84.59, down 66 points, currently up 131 points

Dec 24 Cotton  closed at 80.11, down 58 points, currently up 83 points