So far for Monday, futures are trading with 6 to 39 point losses. Front month cotton futures bounced back by 45 to 89 cents on Friday. For March that left the contract a net 97 points in the black for the week. New crop December ended 190 points stronger for the week.Â
CFTC’s weekly CoT report showed cotton spec traders were adding shorts and closing longs through the week that ended 12/13. That reduced their net long by 7,537 contracts to 10,720. Commercial cotton traders added 4.7k new longs, which reduced their net short to 36,679 contracts as of 12/13.Â
The weekly Cotton Market Review from USDA showed 24,596 bales were sold at spot through the week, averaging 80c/lb. Total sales this season reached 133.3k bales, compared to 525.3k bales last year. The Cotlook A Index was 25 points weaker to 99.2 cents in the 12/15 update. The Seam reported 3,058 bales sold for an average gross price of 86.09 cents/lb. The AWP for cotton was raised 292 points to 72.25 cents.Â
Mar 23 Cotton  closed at 81.92, up 89 points, currently down 2 pointsÂ
May 23 Cotton  closed at 82.08, up 84 points, currently down 32 points
Jul 23 Cotton  closed at 82.03, up 78 points currently down 39 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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