Cotton Closes the Week Down 6.29%

Cotton futures posted a loss of 6.29% in December futures this week, with most contracts 26 to 58 points lower on Friday. The Commitment of Traders report on Friday showed specs pushing their record net short position to 41,727 contracts in the week that ended on 7/9, a bearish nudge of another 4,062 contracts. Thursday’s WASDE update showed USDA trimming their projected 19/20 cash average by another penny to 63 cents/lb. The CFTC Cotton On-Call report showed December unfixed call sales of 32,320 contracts for mills, with unfixed call purchased of 38,945 contracts for December. The Cotlook A index for July 10 was up 50 points from the previous day at 74.80 cents/lb. The weekly AWP was updated to 58.05 cents/lb, down 127 points from the week prior.

OCT 19 Cotton closed at 62.63, down 26 points,

DEC 19 Cotton closed at 62.62, down 46 points

MAR 19 Cotton closed at 63.68, down 52 points

MAY 20 Cotton closed at 64.64, down 58 points

--provided by Brugler Marketing & Management

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