Cotton Higher into the Weekend

Cotton futures finished the week on a strong note, with most front months (excluding thin Oct) up 69 to 83 points. Friday’s Commitment of Traders report indicated that specs added 4,508 contracts to their net long position in cotton futures and options as of September 1. That net long position of 53,231 contracts was the largest since Sept 2018. Through nearly the first month of the MY, upland cotton export commitment are 50% of the USDA forecast. That is 3% above the normal pace, but 8% behind last year’s. The Cotlook A index for 9/3 was 70.5 cents/lb, down 50 points from the previous day. The FSA lowered the week’s AWP for cotton by 6 points to 50.44 cents/lb. The week’s new LDP is 1.56 cents.

OCT 19 Cotton closed at 63.48, down 8 points,

DEC 19 Cotton closed at 65.11, up 83 points

MAR 20 Cotton closed at 66.09, up 80 points

MAY 20 Cotton closed at 66.84, up 69 points

--- provided by Brugler Marketing & Management




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