Cotton Market Commentary

Cotton futures were 17 to 32 points higher in most contracts on Friday. Hurricane Florence weakened to Cat 1, reducing wind speeds but still accompanied by heavy rain. After 5 straight weeks of trimming their net long position, spec traders in Cotton futures and options added 1,504 contracts to that net position on 9/11 to 67,302 contracts. USDA Export Sales data through last Thursday September 6, show that upland cotton export commitments are 60% of the full year USDA projection, with the average pace only 40% this early in the year. The Cotlook A index was up down 25 points from the previous day at 92.15 cents/lb on September 13. The USDA AWP was updated to 73.79 cents/lb, just 2 points above last week.

Oct 18 Cotton closed at 81.900, up 28 points,

Dec 18 Cotton closed at 81.830, up 32 points

Mar 19 Cotton closed at 82.140, up 17 points

Market Commentary provided by:

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