DTN Morning Cotton Commentary          12/22 06:27

   Cotton Tries to Extend Winning Streak

   The cotton market is slightly higher Monday morning, as it attempts to tack 
on to its three-day consecutive higher closings of last week. 

Keith Brown
DTN Contributing Cotton Analyst

   The cotton market is slightly higher Monday morning, as it attempts to tack 
on to its three-day consecutive higher closings of last week. Of course, 
because of Christmas, the market will have abbreviated holiday trading sessions.

   Last Friday, the CFTC issued another Commitments of Traders report, covering 
the period of Dec. 9. Per that report, the managed-money funds were buyers of 
4,774 positions, reducing their net-short carry to 55,013 contracts. For 
context, at one time, the funds were net-short some 81,000-plus contracts.

   For the Christmas holidays, the market will close early on Christmas Eve 
(Wednesday), then all of Christmas Day, and have a shortened session on Friday. 
In addition, President Donald Trump has ordered all executive departments and 
agencies of the U.S. Federal Government will be closed on Wednesday, Dec. 24, 
2025, and Friday, Dec. 26, 2025. Consequently, USDA will be closed on Dec. 24, 
25, and 26, and of course, the weekend. 

   Overnight, the precious metals have wildly posted all-time highs over the 
heightened geopolitical concerns between the U.S. and Venezuela, as well as a 
possible renewal of hostilities between Israel and Iran. Such fear buying may 
be stoking some strength into the commodities complex.

   Daily chart support for March cotton stands at 63.25 cents and 62.75 cents, 
with resistance hovering about 64.10 cents and 64.65 cents. Monday morning's 
estimated opening volume is 4,110 contracts.

   Keith Brown can be reached at commodityconsults@gmail.com or by calling 
(229) 890-7780.




(c) Copyright 2025 DTN, LLC. All rights reserved.