Cotton Up Triple Digits on Friday

Cotton futures were up triple digits in pre weekend trading. Friday moves were enough to push cotton to wk/wk gains of 59 points in the March futures. The CFTC report from this afternoon showed that as of Tuesday managed money spec traders were 7,661 contracts short. Which was a 51.82% growth in the net position. Spec trader open interest from was at an 8 week high, but the 75,777 contracts are still below the ~100,000 OI levels through the summer into September. The Seam reported 8,989 bales sold on Dec 5th, bringing the weekly total to 30,597 bales; last week the total was 35,384 bales sold. The 12/05 Cotlook A Index was regained all 65 points back up to 74.15. The weekly AWP was reduced to 55.97 cents/lb. on Thursday, effective through December 12.

DEC 19 Cotton closed at 64.06, up 55 points,

MAR 19 Cotton closed at 65.95, up 144 points

MAY 20 Cotton closed at 66.82, up 132 points

JUL 20 Cotton closed at 67.52, up 104 points

---provided by Brugler Marketing & Management




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