Cotton

Cotton futures finished the day with nearby contracts 13 to 68 points lower, as deferred contracts were 6 to 15 points in the green. Upland cotton export commitments are now 101% of the recently updated export projection. That is well above the average of 87% for this time of year, and 84% last year. The Cotlook A index was up 50 points from the previous day on March 15 at 92.85 cents/lb. The Adjusted World Price (AWP) was updated to 75.12 cents/lb on Thursday, 99 cents above the previous week. China sold another 18,471 MT of cotton offered at an auction of state reserves on Friday, totaling 61.56% of the amount offered. Spec traders in cotton futures and options added 2,707 contracts to their net long position now at 85,046 contracts on Tuesday, March 13.

May 18 Cotton closed at 82.850, down 68 points,

Jul 18 Cotton closed at 82.980, down 62 points

Oct 18 Cotton closed at 79.380, down 13 points




Market Commentary provided by:

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