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Cotton #2 May '24 (CTK24)
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Cotton #2 Futures Market News and Commentary

Cotton Market Finished Higher on Report Day

Cotton prices spent time on both sides of UNCH on Thursday, but ultimately closed 6 to 63 points in the black led by the March contract. Old crop cotton set new highs for the move and are trading near Sep-Oct price levels. USDA raised the cash average price for cotton by a penny to 77 cents/lb. 

The monthly WASDE update showed a 150k bale lighter domestic cotton use, now at 1.75 million bales. Exports, however, were raised by 200k bales to offset. On net ending stocks tightened by 100k to 2.8 million in the report. 

Cotton Ginnings data from NASS had the season’s total at 11.75 million running bales through Feb 1. That is still 15% behind last year’s pace, as the slowest ginning pace since 09/10. 

Weekly FAS data showed 284k RBs of cotton were booked during the week that ended 2/1. That was down from the 349k RBs sold the week prior but was an 8% increase from the same week last year. Cotton exports were also down for the week, with 249k RBs shipped, but were up 18... Read more

Contract Specifications

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Contract
Cotton #2
Contract Size
50,000 pounds (approximately 100 bales)
Tick Size
0.01 cents per pound ($5.00 per contract)
Trading Hours
8:00p.m. - 1:20p.m. (Settles 1:15p.m.) CST
Exchange
ICE/US
Point Value
$500
Margin/Maintenance
$3,300/3,000
First Notice Date
04/24/24 (76 days)
Expiration Date
05/08/24 (90 days)

Seasonal Chart

Cotton #2 May '24
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Jan 30, 2024

View Chart Details
Commercials - Long / Short
114,657 (+16,187)
161,243 (+22,343)
Non-Commercials - Long / Short
72,535 (-2,512)
30,257 (-6,624)
Producers - Long / Short
46,528 (+10,342)
123,890 (+16,720)
Swap Dealers - Long / Short
47,701 (+2,043)
16,925 (+1,821)
Managed Money - Long / Short
47,020 (-1,707)
16,914 (-5,659)
Other Reportables - Long / Short
25,515 (-805)
13,343 (-965)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
81.09 +10.67%
on 01/10/24
90.00 -0.29%
on 02/08/24
+7.94 (+9.71%)
since 01/09/24
3-Month
78.91 +13.72%
on 11/10/23
90.00 -0.29%
on 02/08/24
+9.61 (+11.99%)
since 11/09/23
52-Week
77.34 +16.03%
on 06/27/23
90.44 -0.77%
on 10/09/23
+4.45 (+5.22%)
since 02/09/23

More Cotton #2 Quotes

All Futures Prices
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Most Recent Stories

More News
Cotton Market Finished Higher on Report Day

Cotton prices spent time on both sides of UNCH on Thursday, but ultimately closed 6 to 63 points in the black led by the March contract. Old crop cotton set new highs for the move and are trading near...

CTH24 : 89.12 (+0.02%)
CTK24 : 89.74 (+0.07%)
CTN24 : 89.93 (+0.01%)
Cocoa Prices Extend a Parabolic Rally to Record Highs on Limited Supplies

March ICE NY cocoa (CCH24 ) on Thursday closed +395 (+7.30%), and Mar ICE London cocoa #7 (CAH24 ) closed +316 (+7.27%). Cocoa prices on Thursday continued their historic rally, as NY cocoa and London...

CCK24 : 5,535s (+5.61%)
CAH24 : 4,660s (+7.27%)
Sugar Prices Underpinned as Adverse Weather Threatens Global Sugar Output

March NY world sugar #11 (SBH24 ) on Thursday closed up +0.10 (+0.42%), and March London ICE white sugar #5 (SWH24 ) closed up +9.20 (+1.40%). Sugar prices on Thursday recovered from early losses and settled...

SBH24 : 23.98s (+0.42%)
SWK24 : 653.60s (+1.02%)
Coffee Prices Mixed as ICE Arabica Inventories Climb While Robusta Supplies Fall

March arabica coffee (KCH24 ) on Thursday closed down -1.90 (-1.00%), and Mar ICE robusta coffee (RMH24 ) closed up +25 (+0.78%). Coffee prices on Thursday settled mixed. A rebound in ICE arabica coffee...

KCK24 : 185.85s (-1.06%)
RMK24 : 3,109s (-0.19%)
Cotton Mostly Higher for Mixed Midday

Thursday’s cotton market is trading back to 4 to 36 points in the black after dropping from the initial strength at 9am Central. New crop futures are still 20 points in the red at midday. USDA raised...

CTH24 : 89.12 (+0.02%)
CTK24 : 89.74 (+0.07%)
CTN24 : 89.93 (+0.01%)
Coffee Prices Mixed as ICE Arabica Inventories Climb While Robusta Supplies Fall

March arabica coffee (KCH24 ) this morning is down -1.60 (-0.84%), and Mar ICE robusta coffee (RMH24 ) is up +12 (+0.37%). Coffee prices this morning are mixed. A rebound in ICE arabica coffee inventories...

KCK24 : 185.85s (-1.06%)
RMK24 : 3,109s (-0.19%)
Crop Production

Crop Production - 2024-02-08

ZSH24 : 1192-2 (-0.10%)
ZSPAUS.CM : 11.4028 (+0.39%)
ZSBAUS.CM : -0.5321 (-0.15%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSH24 : 3,612s (-0.61%)
XTH24 : 4,784s (+0.19%)
ZCH24 : 431-6 (-0.35%)
ZCPAUS.CM : 4.1370 (-0.27%)
ZCBAUS.CM : -0.1955 (-0.72%)
XVK24 : 2,408s (unch)
XEU24 : 65.05 (+0.34%)
WASDE

WASDE - 2024-02-08

ZSH24 : 1192-2 (-0.10%)
ZSPAUS.CM : 11.4028 (+0.39%)
ZSBAUS.CM : -0.5321 (-0.15%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSH24 : 3,612s (-0.61%)
XTH24 : 4,784s (+0.19%)
ZCH24 : 431-6 (-0.35%)
ZCPAUS.CM : 4.1370 (-0.27%)
ZCBAUS.CM : -0.1955 (-0.72%)
XVK24 : 2,408s (unch)
XEU24 : 65.05 (+0.34%)
Cotton Currently Mixed after Overnight Drop

Cotton is trading off the overnight lows and mixed within 10 points of UNCH ahead of the weekly USDA Export Sales report and this morning’s USDA supply/demand updates. Cotton futures closed the midweek...

CTH24 : 89.12 (+0.02%)
CTK24 : 89.74 (+0.07%)
CTN24 : 89.93 (+0.01%)
Cotton Futures Rallied with Export Data

Cotton futures closed the midweek session 46 to 93 points in the black and just ~20 points off the session highs. Census data confirmed cotton exports were 1.106m bales in December. That was a 3-yr high...

CTH24 : 89.12 (+0.02%)
CTK24 : 89.74 (+0.07%)
CTN24 : 89.93 (+0.01%)

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Average Signal Strength.

Key Turning Points

3rd Resistance Point 91.13
2nd Resistance Point 90.57
1st Resistance Point 90.12
Last Price 89.74
1st Support Level 89.11
2nd Support Level 88.55
3rd Support Level 88.10

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52-Week High 90.44
Last Price 89.74
Fibonacci 61.8% 85.44
Fibonacci 50% 83.89
Fibonacci 38.2% 82.34
52-Week Low 77.34

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