Cotton #2 Futures Market News and Commentary
Cotton futures rallied 49 to 103 points in the front month futures. March futures ended the week with a 1 point loss. In the weekly Commitment of Traders report with data and positions from Tuesday the 14th, managed money was listed at 30,263 contracts net long, the highest position on net in 56 weeks. The net long grew wk/wk as spec trader OI shorts were 3,909 lower and longs were 5,475 higher wk/wk. . The Seam online cotton trading platform added another 6,719 bales sold on 01/16, with an average gross price of 59.19 cents/lb. The Cotlook A index dropped a full penny to 79.20 on 01/16. The AWP for cotton was 61.40 cents/lb, and is good through Thursday.
Mar 20 Cotton closed at 71.25, up 103 points,
May 20 Cotton closed at 72.19, up 100 points
Jul 20 Cotton closed at 73.06, up 98 points
Oct 20 Cotton closed at 72.92, up 49 points
---provided by Brugler Marketing & Management