Cotton Market News and Commentary

Cotton futures saw losses of 6 to 60 points in the front months on Friday, pressured by a stronger dollar and lower crude oil. May was up 1.43% this week. The Cotlook A Index was UNCH on March 21 to 84.65 cents/lb. The USDA Adjusted World Price (AWP) was updated to 65.83 cents/ lb on Thursday, up 173 points from the week prior. The weekly Commitment of Traders report showed spec funds trimming their net short position as of March 19 by 9,189 contracts to 10,818 contracts in cotton futures and options. US export commitments for upland cotton are now 13.1% below the same time last year. In comparison to the USDA projected total, they are 89% complete, with the average pace at 90% for this date.

May 19 Cotton closed at 76.580, down 60 points,

Jul 19 Cotton closed at 77.570, down 46 points

Oct 19 Cotton closed at 75.860, down 6 points

--provided by Brugler Marketing & Management




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