Cotton

Cotton futures are posting sharp losses in most nearby contracts on Friday, as Mar is down 108 points. A sharply higher US dollar is pressuring the market lower. Weekly Shipments of upland cotton hit a marketing year high of 305,086 RB, which was 31.19% larger than the week prior but down 13.93% from this time last year. Thursday afternoon’s CFTC Cotton On-Call report showed 154,655 contracts for unfixed call sales, with 31,827 contracts in unfixed call purchases. The USDA Adjusted World Price or AWP was updated to 71.35 cents/lb, down 395 points from the previous week. The Cotlook A index on February 1 was 87.85 cents/lb, up 25 points from the previous day.

Mar 18 Cotton is at 77.27, down 108 points,

May 18 Cotton is at 78.52, down 93 points

Jul 18 Cotton is at 79.28, down 96 points




Market Commentary provided by:

Brugler Marketing & Management LLC
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