Cotton futures were down 78 to 105 points in most nearby contracts. A higher US dollar pressured the market lower. Front month March dropped 3.95% from last week. Thursday afternoon’s CFTC Cotton On-Call report showed 154,655 contracts for unfixed call sales, with 31,827 contracts in unfixed call purchases. Spec traders in cotton futures and options backed 11,786 contracts off their large net long position to 96,376 contracts as of Jan 30. 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 closed at 77.300, down 105 points,

May 18 Cotton closed at 78.610, down 84 points

Jul 18 Cotton closed at 79.460, down 78 points

Market Commentary provided by:

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