Cotton Mixed at Close

Cotton futures go into the weekend with a mixed close on Friday. Old crop prices were 92 points weaker in July and 31 points weaker for the thin October. New crop December and March contracts came back from midday losses and ended the last trade day of the week 10 to 17 points higher. The Dollar Index was sharply lower on Friday, down by 72 points to 90.23. 

Data from the Commitment of Traders report showed managed money funds were net sellers of cotton during the week that ended May 4. On net, the group was 493 contracts less long to 58,175. 

USDA’s Daily Spot Quotations report for 5/7 showed 3,647 bales were sold at spot. The weekly Cotton Market Review said the week’s average spot price was 84.03 c/lb, compared to 84.92 c/lb last week. The Cotlook A index from May 6th was unchanged at 92.30 cents/lb. The AWP for cotton was lowered by 2.32 cents to 71.39 cents/lb. 

Jul 21 Cotton  closed at 89.66, down 92 points,

Dec 21 Cotton  closed at 86.89, up 17 points,

Mar 22 Cotton  closed at 85.92, up 10 points

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.