Cotton

Cotton futures finished the week with 20 to 51 points losses on Friday. A little pressure came from a stronger US dollar. Managed money spec traders climbed back to their largest net long position since mid May at 82,409 contracts. That was an increase of 11,681 contracts over the week that ended 12/5. The USDA Ag Attach in China expects the country to show 5.4 MMT in 17/18 production, with total usage running at 8.5 MMT. They are also shown as importing 1.3 MMT, an increase of 0.2 MMT from 16/17. The USDA Adjusted World Price (AWP) was updated to 65.03 cents/lb, up 81 points from the previous week. Online cash sales rose to 23,591 bales reported on the Seam, as prices were up 64 points to 69.90 cents/lb. The Cotlook A index was up 25 points from the previous day on December 7 to 83.20 cents/lb.

Mar 18 Cotton closed at 73.720, down 51 points,

May 18 Cotton closed at 74.200, down 44 points

Oct 18 Cotton closed at 73.020, down 24 points




Market Commentary provided by:

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