Cotton Tumbles Triple Digits on Friday

Cotton futures were down triple digits on the last trading day of the week. For Dec contracts that pushed the week’s move to minus 30 points from Friday to Friday. The national average spot cotton price from cmdtyView was 67.32 cents/lb on 11/05. WTD sales on The Seam through Thursday were 11,088 bales at a wtd average price of 67.36 cents/lb. USDA’s weekly Cotton Market Review showed the week’s spot sales ranged 64.02 to 65.67 cents for a 65.02 cent/lb average. The Cotlook A index remained at 77 cents/lb for 11/05. USDA lowered the week’s AWP for cotton 136 points to 56.01 cents/lb. CFTC’s weekly Commitment of Traders report showed cotton specs reduced their net long 6,030 contracts to 64,171 on 11/3. That came via long liquidation. Commercials also covered shorts on the week, reducing the net short 7,021 contracts to 145,852.

Dec 20 Cotton closed at 68.62, down 145 points,

Mar 21 Cotton closed at 70.15, down 106 points

May 21 Cotton closed at 71.02, down 100 points

Jul 21 Cotton closed at 71.75, down 96 points

--- provided by Brugler Marketing & Management





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