March cotton futures have stayed between 77 and 90 cents/lb since November, but closed down by 156 points to start the week. The other nearby contracts also worked lower on Monday with 66 to 142 point losses.Â
The weekly CFTC report showed managed money firms were 18,257 contracts net long in cotton as of 12/6. That was a week-to-week increase of 3.3k contracts mostly via short covering. Commercial cotton hedgers were quiet during the week, with 1.8k fewer longs and 2k new shorts for a 40,318 contract net short.Â
The Seam reported 2,865 bales were sold online for an average gross price of 84.75 cents on 12/09. The Cotlook A Index for 12/9 was 105 points weaker to 98.9 cents/lb. The week’s AWP is 75.17 c/lb through Thursday.Â
Mar 23 Cotton  closed at 79.39, down 156 points,
May 23 Cotton  closed at 79.48, down 142 points,
Jul 23 Cotton  closed at 79.41, down 125 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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