Cotton Rides Gains into the Weekend

Nearby cotton futures finish higher on Friday with gains of 54 to 61 points. The CFTC reported spec funds in cotton futures and options were net short by 14,272 positions, which is 975 less short than the previous release. Cotton weekly export sales were at 345,079 bales for the week ending 11/07, that is a 52.09% increase over the previous week. The USDA reported 126,177 bales shipped for the same week. Accumulated exports are now 2.610 million bales, 15.98% above last year’s pace. The PRC (China) occupied 24.13% of the weekly export sales, and the country was the destination for 12.43% of the shipments for that week. The Seam reported 5,353 bales sold online for 11/14, bringing the weekly accumulated sales to 18,087 bales. The 11/14 Cotlook A Index fell by 90 points to 74.90 cents/lb. Good through 11/21, yesterday’s updated AWP for cotton is 57.06 cents/lb, which was back up 46 points.

DEC 19 Cotton closed at 64.88, up 61 points,

MAR 19 Cotton closed at 66.71, up 63 points

MAY 20 Cotton closed at 67.88, up 61 points

JUL 20 Cotton closed at 68.83, up 54 points

--provided by Brugler Marketing & Management

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