Nearby cotton prices were 25 to 75 points stronger at the settle on Friday. For the week, March saw a 632 point range and closed 339 points lower. As a reminder, ag markets are closed on Monday for the MLK federal holiday.
CFTC’s weekly Commitment of Traders report showed managed money was 9,110 contracts net long in cotton as of 1/10. That was a 2,295 contract weaker net long through the week following long liquidation. Commercial cotton hedgers put on new positions through the week, with a total of 9.6k new contracts open. On net, their net short was 1,352 contracts lighter to 37,727 as of 1/10.
USDA’s weekly Cotton Market Review showed 32,800 bales were transacted during the week, averaging 83.27 cents/lb. The Cotlook A Index from 1/12 was 70 points lower to 100.10 cents. The FSA raised the AWP for cotton by 170 points to 74.68 cents.
Mar 23 Cotton closed at 82.29, up 25 points,
May 23 Cotton closed at 82.6, up 33 points,
Jul 23 Cotton closed at 82.87, up 52 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. For more information please view the Barchart Disclosure Policy here.
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