Cotton futures kicking off Tuesday with a split personality 📊 December contracts bleeding, but March, May pushing higher by 8-13 points. Here's the tea:
• Dec 25: -3 pts to 62.46 (still sliding) • Mar 26: +8 pts to 64.21 (bouncing back) • May 26: +2 pts to 65.37 (steady climbing)
Cotlook A Index dropped 25 more points to 74.70—bearish energy lingering. But here's the plot twist: ICE certified stocks flat at 19.2k bales, crude oil chilling at $59.72 (-37 cents), USD stronger at 99.45.
The Seam auction? 416 bales moved at 63.51¢/lb. Adjusted World Price holding at 51.83¢/lb through Thursday.
TL;DR: Front month struggling, back months rallying—classic hedge repositioning or genuine demand? Market's pricing in something. 👀
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Cotton futures kicking off Tuesday with a split personality 📊 December contracts bleeding, but March, May pushing higher by 8-13 points. Here's the tea:
• Dec 25: -3 pts to 62.46 (still sliding)
• Mar 26: +8 pts to 64.21 (bouncing back)
• May 26: +2 pts to 65.37 (steady climbing)
Cotlook A Index dropped 25 more points to 74.70—bearish energy lingering. But here's the plot twist: ICE certified stocks flat at 19.2k bales, crude oil chilling at $59.72 (-37 cents), USD stronger at 99.45.
The Seam auction? 416 bales moved at 63.51¢/lb. Adjusted World Price holding at 51.83¢/lb through Thursday.
TL;DR: Front month struggling, back months rallying—classic hedge repositioning or genuine demand? Market's pricing in something. 👀