Cotton Weakens on Friday

Closing cotton prices were lower across the old crop futures with 38 to 45 point losses. New crop Dec closed 22 points higher. CFTC data showed cotton specs reduced their net long by 1,010 contracts to 69,702 on the week ending 1/12. Commercial’s net position was 144,177 contracts net short after 5,190 new longs were added. USDA’s weekly Cotton Market Review showed 79,659 bales were sold on the week ending 01/14. The average cash price for the week was 76.52 cents/lb, which was the highest weekly cash price since Sept 13, 2018. The Cotlook A index pulled back 3 quarters of a cent to 87.35. The USDA AWP was raised 3.98 cents to 63.23 cents/lb.

Mar 21 Cotton closed at 80.7, down 45 points,
May 21 Cotton closed at 81.62, down 38 points
Jul 21 Cotton closed at 82.37, down 38 points
Dec 21 Cotton closed at 77.02, up 22 points

--- provided by Brugler Marketing & Management




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