Cotton

Cotton futures are trading 27 to 41 points lower this morning. They were down 78 to 105 points in most nearby contracts on Friday. A higher US dollar pressured the market on Friday and it is modestly higher in overseas action on Monday. Front month March dropped 3.95% for the week as spec longs cashed out. Thursday’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 CFTC net long position to 96,376 contracts as of Jan 30. The USDA Adjusted World Price or AWP is 71.35 cents/lb, through Thursday. The Cotlook A index on February 1 was 87.85 cents/lb, up 25 points from the previous day.




Market Commentary provided by:

Brugler Marketing & Management LLC
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