Cotton prices are starting out the new week with triple digit gains so far for old crop. The May contract was up by 226 points earlier overnight. Nearby cotton futures settled 24 to 46 points in the black on Friday. May futures had a net 134 point loss for the week. Dec cotton finished the week with a net 69 point gain as it tries to buy planted acres for 2024. 

CFTC’s report had cotton traders liquidating longs during the week that ended 3/12. That dropped their net long by 3.2k contracts to 93,160. The commercial cotton hedgers were 1,517 contracts less net short at 132,529. 

USDA’s weekly Cotton Market Review showed 11,320 bales were sold at an average price of 89.25 cents/lb. The Cotlook A Index for 3/14 was 40 points weaker to 99.80 cents/lb. The updated AWP is 76.10 cents/lb, down by 68 points from last week. ICE certified stocks added another 1,100 bales to 27,765 as of 3/13. 

May 24 Cotton  closed at 93.94, up 46 points, currently up 114 points

Jul 24 Cotton  closed at 93.59, up 33 points, currently up 113 points

Dec 24 Cotton  closed at 83.68, up 25 points, currently up 14 points