Cotton prices update from Nymex


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Description

Cotton (Financial) futures are an outright cotton contract between a buyer and seller that industry participants, such as cotton producers, exporters, importers and retailers can use to manage price risk.

  • Provide effective risk management opportunities for participants in a number of markets that use cotton, including textiles, paper, livestock feed and coffee filters
  • Are financially-settled contracts that provide price discovery and remove the complexities of the physically-delivered process

Things to know about the contracts

  • Traded electronically on the CME Globex platform, virtually around the clock
  • Off-exchange transactions can be submitted for clearing only through CME ClearPort, as EFSs
  • Trading months consist of a March, May, July and October cycle over a 24-month-period
  • Are a dollar-denominated, financially-settled contract of 50,000 pounds

About Cotton
Cotton, derived from the cotton plant, is the world’s most widely-used natural fiber for clothing. Archaeological findings have discovered that people from India and South America grew cotton as far back as 7,000 years ago. It was a pivotal factor in wars including the United States Civil War in the 1860s. Today, cotton is used in a number of industries, including textiles, coffee filters, paper printing, and livestock feed.

NYMEX Cotton Futures
Product Symbol TT
Venue CME Globex, CME ClearPort
Hours
(All Times are New York Time/ET)
CME Globex: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Contract Size 50,000 pounds
Price Quotation U.S. Dollars per pound
Minimum Fluctuation $0.0001 per pound
Termination of Trading Trading terminates on the day immediately preceding the first notice day of the corresponding trading month of Cotton futures at ICE Futures U.S.
Listed Contracts Trading is conducted in the March, May, July, October, and December cycle for the next 24 months.
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 932
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.



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