Cotton Down at Close

Cotton closed the last trading day of the week with more losses, save for October futures which were 17 points higher. May futures were 686 points lower from Friday to Friday despite excellent export sales. Concern about demand for cotton goods is an issue, with the weak stock market as Exhibit A. The Commitment of Traders report showed that managed money was 12,465 contracts net short for cotton on 03/17. That was 4,519 contracts more sent short wk/wk and came via long liquidation. WTD sales on the online cotton trading platform The Seam were 9,446 bales. The 03/19 Cotlook A index was down another 110 points to 66.60 c/lb. The Adjusted World Price for cotton was adjusted 309 points lower to 49.95 c/lb.

May 20 Cotton closed at 53.63, down 130 points,

Jul 20 Cotton closed at 53.75, down 123 points

Oct 20 Cotton closed at 56.42, up 17 points

Dec 20 Cotton closed at 55.12, down 98 points

--- provided by Brugler Marketing & Management




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