Cotton

Cotton futures were mostly higher on Friday, with nearby March 7 points lower. The CFTC Commitment of Traders report showed cotton futures and options spec traders adding 8,165 contracts to their net long position. That 97,675 contracts figure was the largest reported net long position since mid-May. Friday’s Cotton Ginnings report showed 14.003 million RB had been ginned as of December 15. That was an increase of 2.668 million RB over the December 1 ginnings and 34% larger than last year. The USDA Adjusted World Price was updated to 68 cents/lb, 205 points higher than the previous week. The Cotlook A index was 75 points higher from the day prior on December 21 to 86.50 cents/lb.




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