Cotton Prices Weaker for Weekend

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




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