Cotton Close Marginally Mixed on Friday

Cotton futures closed 3 to 24 points higher on Friday, with deferred contracts lower. Dec was down 2.75% on the week. Commitment of Traders data shows spec funds backing off their net short position in cotton futures and options by 9,674 contracts to -24,890 contracts on Tuesday. Export commitments of shipped and unshipped upland cotton sales are now 55% of USDA’s projected 19/20 total. That is above the 54% average pace but down from 68% for the same time last year. Thursday’s Cotton On-Call report showed mills with unfixed call sales of 23,888 contracts as of 9/13, with unfixed call purchases at 38,610 MT. The Cotlook A Index was down 90 points on September 19 at 71.50 cents/lb. The weekly AWP is 54.62, effective through next Thursday. That is up 2.34 cents from the previous week.

OCT 19 Cotton closed at 59.02, up 3 points,

DEC 19 Cotton closed at 60.57, up 24 points

MAR 20 Cotton closed at 61.17, up 11 points

MAY 20 Cotton closed at 62.03, down 5 points

-- provided by Brugler Marketing & Management

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