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Where Are Cotton Prices Going ?

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Cotton Futures---Cotton futures in the December contract which is considered the new crop and is currently being grown in the southern part of the United States is up 67 points at 66.42 still stuck in a 4 week consolidation pattern looking for some fresh fundamental news to push prices in either direction.

At the present time I am not involved as there's a possibility that the contract low which was hit on June 10th at 64.70 might be a false breakout so keep a close eye on this as a break out is looming in my opinion.

Cotton prices are trading under their 20 and 100 day moving average as the trend still does remain negative, however the grain market has come to life over the last 3 weeks as I think that will help to support cotton prices down the road. Volatility at the present time is extremely low as favorable weather conditions especially in the state of Texas continue to keep a lid on prices as planting has been much more ideal than here in the Midwestern part of the United States where we experience rain consistently with cool temperatures.

Historically speaking cotton prices look cheap in my opinion as I had been recommending a bearish position in the month of April which worked out very well as the trade war with China has certainly depressed prices so keep a close eye on this commodity as I will not go short.




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About the author

Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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