Cotton is starting out the week with 57 to 87 point gains. Cotton futures pulled back and went into the weekend on 138 to 165 point losses. For March that only limited the weekly gain as the contract was still up a net 3 cents per pound from the previous Friday.Â
The weekly Commitment of Traders data release had managed money cotton traders 14,913 contracts net long on 11/29. That was a 2,366 contract lighter net long wk/wk driven by new selling. Commercial cotton hedgers reduced their net short by 3,022 contracts through the week to 36,503.Â
The weekly Cotton Market Review showed 10,715 bales were sold at spot during the week that ended 12/1. USDA had the week’s average selling price at 80.81 cents. The Cotlook A Index 380 points higher on 12/1 to $1.02 90/100. The FSA updated AWP for the week is 73.03 cents/lb, down by 158 points.Â
Dec 22 Cotton  closed at 84.28, down 165 points, currently up 107 points
Mar 23 Cotton  closed at 83.2, down 165 points, currently up 87 points
May 23 Cotton  closed at 82.56, down 159 points, currently up 87 points
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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