Cotton Rebounded on Friday

Cotton futures rebounded triple digits on Friday, with gains of 67 to 84 points. The rally was not enough to offset the earlier losses, and futures go into the weekend 220 points lower wk/wk.The CFTC reporting the net short position for specs did get reduced by 1,166 cotnracts . Upland cotton export commitments are now 66% of the USDA projection (59% avg), with actual shipments 18% of the full-year forecast (16% avg). Weekly running online sales on The Seam through 11/21 were up to 16,413 bales; last week’s total was 18,087 through Thursday. The 11/20 Cotlook A Index was down again for the third straight day, this time a full cent bringing the index to 73.40 cents/lb. The weekly update to the AWP for cotton was reduced 70 points to 56.36 cents per lb.

Dec 19 Cotton closed at 63.42, up 158 points,

Mar 20 Cotton closed at 64.85, up 84 points

May 20 Cotton closed at 65.94, up 80 points

Jul 20 Cotton closed at 66.81, up 67 points

--provided by Brugler Marketing & Management

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