Cotton prices settled the Friday session with 58 to 73 point gains. For March that was 127 points off the daily high. For the week, March was 184 points lower. March cotton ended the month at a net 124 point loss. The yearly cotton move was a net 29.23 cent loss on the continuation chart.Â
Commitment of Traders data released Friday afternoon had managed money firms at a 15,981 contract net long in cotton as of 12/27. That compares to their 12.5k contract net long from the prior Tuesday, as 4k shorts were closed. Commercials exited 3.9k contracts for a net 636 contract stronger net short of 42,362 contracts.Â
USDA’s weekly Export Sales data showed 82,254 RBs of cotton was booked during the week that ended 12/22. That was up from 87.8k RBs of cancelations last week, but was down from 192k RBs sold during the same week last year. The week’s exports were marked at 140k RBs – mainly to Pakistan and China. Accumulated shipments were reported at 3.774m RBs, a 29% lead over last year’s pace. USDA also had 1.203m RBs on the books for 23/24 delivery, a 12% lead over forward bookings into this 21/22 season.Â
The Cotlook A Index for 12/29 was 120 points weaker to 99.80 cents. The Seam reported 5,784 bales were sold online for an average gross price of 77.54 cents. The new AWP was 107 points lower to 74.50.Â
Mar 23 Cotton  closed at 83.37, up 73 points,
May 23 Cotton  closed at 83.45, up 72 points,
Jul 23 Cotton  closed at 83.38, up 75 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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