Cotton futures were up 15 to 29 points on Friday. For Dec that completed a 2.8% gain for the week. USDA’s 2020/21 cotton production is 17.05 million bales. The average yield was down 1 at 909 lbs. per acre. The 2020/21 export figure was UNCH at 14.6 m bales. USDA sees ending stocks at 7.2 million bales. They increased the cash average price to 61 cents per pound, up 2 from 59 in Sept. Through October 1, NASS says 915k RBs have been ginned. That is 19% below 19/20’s pace, and the lowest since 15/16. CFTC’s Weekly data release showed cotton spec traders were 53,080 contracts net long on October 6. That was up 1,952 contracts from last week’s net long. The Weekly Cotton Market Review said 28,834 bales were sold at spot this week. That was 11.3k bales above LW and 15.3k bales above LY. The average spot price for the sales was reported at 61.13 cents/lb, compared to 60.10 LW and 58.81 LY. The Cotlook A index for 10/08 was another 65 points higher to 72.95 cents/lb. The Adjusted World Price for cotton was raised 81 points by USDA to 51.48 cents/lb. That set the LDP down to 0.52 cents for the week.

--- provided by Brugler Marketing & Management