Cotton Fades in Afternoon But Is Higher on Day

After giving back some of the triple digit gains, front month cotton futures still closed 37 to 46 points higher. December cotton futures expire on Tuesday, they were down 2.5% on the week. Census export data showed an unsurprising record October with 1.195m bales shipped. YTD exports for the first three months are a record 3.542m bales, outpacing the previous record set in 07/08 by 43,293 bales. CFTC data showed that managed money reduced their net long 825 contracts to 60,460 on the week ending December first. USDA’s weekly Cotton Market Review said the average cash price fell 63 points on the week to 67.56 cents with 31,246 fewer bales sold. The Cotlook A index was 50 points lower on 12/3, at 78.35. The week’s new AWP for cotton is 58.42 cents/lb.   

Mar 21 Cotton closed at 71.55, up 44 points,
May 21 Cotton closed at 72.44, up 44 points
Jul 21 Cotton closed at 73.19, up 43 points
Dec 21 Cotton closed at 70.65, up 37 points

 --- provided by Brugler Marketing & Management




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