Coming out of the weekend, front month cotton futures are trading 7 to 38 points higher. Despite negative interest rates, the euro is still gaining against the US dollar following the Fed’s easy money stance at the virtual Jackson Hole conference. From USDA’s weekly Market Review, 24,348 bales of cotton were sold at spot for an average of 59.36 cents/lb. The full range of the week’s cash prices were 58.37 – 59.8 cents. From the week’s CoT report, managed money was a net buyer for cotton on the week ending 8/25. Spec trader OI increased 4,962 contracts leaving the group 48,723 contracts net long. The Cotlook A index for August 28 was 71.10 cents/lb, down 25 points. The AWP for cotton for the week is 50.50 cents/lb, with a 1.5 cent LDP.

--- provided by Brugler Marketing & Management