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Cotton futures closed the Friday session with contracts 53 to 112 points. December managed to close the week with a 181 point gains. Crude oil was back up $3.21 per barrel, with the US dollar index back up $0.016.
Friday afternoon’s Commitment of Traders report showed managed money spec funds in cotton futures and options trimming back 799 contracts to their net long in the week ending on Tuesday to 52,410 contracts.
Export Sales data has accumulated export business at 12.032 million RB, which is 102% of the USDA export projection. Accumulated shipments are 10.908 million RB, or 93% of the USDA number and lags the 96% shipping pace from last year. New crop business at 2.879 million RB is 36.72% above the same period last year.
The Cotlook A Index was down another 100 points Thursday at 88.75 cents. ICE certified cotton stocks were unchanged on July 30, with the certified stocks level at 90,699 bales. The Adjusted World Price was raised by 84 points on Thursday to 64.66 cents/lb.
Oct 26 Cotton closed at 80.5, up 109 points,
Dec 26 Cotton closed at 81.79, up 112 points,
Mar 27 Cotton closed at 83.36, up 111 points
