Cotton Futures Go Into the Weekend in the Red

The cotton market closed in the red on Friday, with front month futures down by as much as 46 points. That wasn’t enough to erase earlier March gains, as the front month futures were higher wk/wk, by 71 points. The weekly Commitment of Traders report showed that managed money was again net short cotton. The short shrank by 4,702 contracts wk/wk to 2,959 contracts. The Seam online cotton trading reported 55,784 bales sold online, with a 3.7% increase in average gross price. WTD bales sold is at 97,253 bales, an increase of 45.99% over last week’s (active) sales with Friday’s data yet to be added to the increase. The Cotlook A Index remained firm and is still at 75.35 for 12/12. The updated AWP for cotton increased by 69 points to 56.66 cents per lb.

Mar 20 Cotton closed at 66.71, down 46 points,

May 20 Cotton closed at 67.88, down 23 points

Jul 20 Cotton closed at 68.76, up 9 points

Oct 20 Cotton closed at 68.62, unch

---provided by Brugler Marketing & Management

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