Cotton Market 17 to 33 Points Lower

Cotton futures are trading 17 to 33 points lower this morning. They closed Friday with most contracts 53 to 72 point higher. Spec funds in cotton futures and options held a CFTC net short position of 25,238 contracts as of Tuesday. Upland cotton export commitments are now 4.9% below the same time last year at 8.56 million RB. That is 56% of the USDA 19/20 export projection, lagging last year, 68% but well above the normal 48% pace. Thursday’s Cotton on-Call report show mills with 23,656 contracts for unfixed call sales for Dec, with unfixed call purchases of 36,639. The Cotlook A Index was unch on September 26 at 71.40 cents/lb. The AWP for this week was updated to 53.19 cents/lb, good through Thursday.

-- provided by Brugler Marketing & Management

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