At the close on Friday, front month cotton prices were 74 to 101 points in the red. USDA reported 292,355 RBs of cotton sold for export on the week ending 1/14. That was down 11% wk/wk, but 25% above the same week last year. Accumulated cotton commitments were 12,156m RBs as of 1/14. The weekly Commitment of Traders report showed cotton specs reduced their net long by 1,849 contracts on a 55 contract higher OI. On net spec traders were still 67,853 contracts net long. The online Cotton trading platform’s week’s sales were 31,662 bales through Thursday for a wtd average price of 73.52 cents. USDA’s weekly Cotton Market review showed 44,177 bales sold on the week ending 1/21. That was down from 79.6k LW and 49.7k LY, but price was up 89 points to 77.41 cents. The Cotlook A index half a cent higher to 88.10 cents/lb. USDA’s AWP for cotton is 66.7 cents/lb for the week.
Mar 21 Cotton closed at 81.56, down 101 points, |
May 21 Cotton closed at 82.66, down 84 points |
Jul 21 Cotton closed at 83.56, down 74 points |
Dec 21 Cotton closed at 78.47, down 57 points |
--- provided by Brugler Marketing & Management