Cotton Closes Red on Friday

At the close for Friday, cotton prices had weakened by 29 to 39 points in old crop and 8 to 14 in new crop. The March contract traded within a 149 point range on Friday. March was within a 245 point range through the week, and was 146 points weaker from Friday to Friday. 

The weekly CoT report showed managed money firms were 457 contracts less net long at 80,405 contracts. The commercials were adding hedges into the weekly USDA report with a 9,636 contract increase to OI and a 2,118 contract stronger net short of 154,972 contracts. 

USDA’s weekly Cotton Market Review reported the week’s average cash price at 122.37 cents/lb for the 51,966 bales sold. The Cotlook A index for 2/10 was 65 points lower to 140.40. The FSA updated the AWP for cotton to 117.60 c/lb, up from 116.10 c/lb last week. 

Mar 22 Cotton  closed at 125.28, down 38 points,

May 22 Cotton  closed at 122.91, down 29 points,

Dec 22 Cotton  closed at 105.19, down 8 points