Cotton Firm on Friday

Cotton futures did little on Friday. For March futures the 1 point Friday gain extended the week’s advance to 165 points. USDA’s weekly cotton classing report shows 12.638 million bales of upland cotton has been classed so far through January 7. Through this week last year 17.4 million bales of upland cotton were classed. Managed money was 70,712 contracts net long in cotton, per the latest Commitment of Traders report. That was a weekly increase of 2,283 contracts. Commercials were reported 7,797 contracts more net short to 147,069 contracts. The online cotton trading platform The Seam reported 13,293 bales sold on Jan 7th. WTD sales through Thursday were 66,378 bales for a wtd average price of 72.37 c/lb. USDA’s weekly Cotton Market Review reported sales were down 1,185 bales to 67,350 on the week ending 01/07. The average spot price for the week’s sales was 75.34 cents/lb. The Cotlook A index pulled back a quarter of a cent to 86.55 cents/lb. The AWP was reduced 78 points to 62.25 cents/lb. 

Mar 21 Cotton closed at 79.77, up 1 point,
May 21 Cotton closed at 80.55, down 4 points
Jul 21 Cotton closed at 81.25, unch
Dec 21 Cotton closed at 76.19, down 16 points

--- provided by Brugler Marketing & Management




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