Cotton #2 Dec '20 (CTZ20)
Cotton #2 Futures Market News and Commentary
Friday cotton trading faded back in the afternoon session, as futures ceded midday gains and closed 13 to 16 points lower. Dec cotton traded with an 86 point range, but closed down by 14 points. September cotton futures on the ZXE closed at 11,985 yuan/MT (~ 78.24 cents/lb) in China. The average spot price from USDA’s Weekly Market review was 57.62 cents/lb for cotton on the week ending August 13. The week’s sales on The Seam through Thursday were 5,247 bales at a wtd average gross price of 57.01 cents/lb. The weekly CoT report showed new buying interest from cotton specs on the week ending Aug 11. Managed money was 39,838 contracts net long, up 8,503 wk/wk. The Cotlook A index for Aug 13 fell back 130 points to 68.20 cents/lb. The AWP for cotton is 48.92 cents/lb, after a 52 point drop. The new LDP for the week is 3.08 cents/lb, effective through next Thursday.
Oct 20 Cotton closed at 62.29, down 14 points,
Dec 20 Cotton closed at 62.85, down 14 point... Read more
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