Cotton Fall into Friday’s Close

Cotton futures closed Friday with losses of 25 to 61 points in the front months, as December was down 54 points this week. The outside markets were pressure factors, with the US dollar index up another $0.334 on the day to $97.305 and crude oil futures $0.93 lower.

The weekly CFTC Commitment of Traders report indicated managed money trimming their net short in cotton futures and options by 9,844 contracts to 59,061 contracts by September 16.

USDA tallied upland cotton export business (combined shipped and unshipped sales) at 3.973 million RB, which is down 18% from last year. That is now 36% of the USDA projection and lagging the 52% average sales pace.

The Cotlook A Index was back down 45 points at 78.65 cents on September 18. USDA’s Adjusted World Price (AWP) was back up 69 points on Thursday at 54.79 cents/lb. The Seam reported 151 bales sold on Thursday at an average price of 65.00 cents/lb. ICE cotton stocks were again steady on 9/18, with the certified stocks level at 15,474 bales.

Oct 25 Cotton  closed at 64.94, down 25 points,

Dec 25 Cotton  closed at 66.29, down 61 points,

Mar 26 Cotton  closed at 68.28, down 56 points

On the date of publication, Austin Schroeder 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. This article was originally published on Barchart.com