Cotton

Cotton futures are trading 18 to 28 points higher this morning. They finished Friday 41 to 87 points in the green. Upland cotton sales totaled 275,060 RB in the USDA weekly Export Sales report. That was slightly above last week but 20.62% below this week last year. Weekly exports of upland cotton totaled 289,866 RB, a MY high. A big chunk of those shipments were to China at 100,000 RB. CFTC data on Friday showed managed money spec funds adding 4,216 contracts to their net long position as of Tuesday to 108,778 contracts. That is their largest net long position dating back to 2006 when the Disaggregated data series began. The USDA Adjusted World Price (AWP) announced Thursday was up a steep 324 points from the previous week to 74.45 cents/lb. The Cotlook A Index for January 17 was up 75 points from the previous day at 92.85 cents/lb.




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