Cotton Closes Higher ahead of Weekend

Cotton futures ended the Friday session up 36 to 69 points. For Dec, that ended the week’s move at plus 29 points. Revived hopes for a stimulus bill out of Washington boosted equities and spending ideas. The weekly CoT update had Cotton spec traders 1,483 contracts more net long, at 51,311 as of 9/22. New buying was noted as managed money open interest increased 3,349 contracts wk/wk. WTD cash cotton sales on The Seam were 10,118 bales at a wtd average price of 53.91 cents/lb. Spot sales from USDA’s Weekly Cotton Market Review were 11,437 bales at an average price of 59.82 cents. LW sales were 33,704 bales for 59.84 cents. The Cotlook A index was 25 points lower for Sept 24, at 70.60 c/lb. The AWP for cotton is now 50.45 cents/lb. FSA increased this week’s LDP to 1.55 cents.

Oct 20 Cotton closed at 64.66, up 69 points,

Dec 20 Cotton closed at 65.95, up 49 points

Mar 21 Cotton closed at 66.66, up 41 points

May 21 Cotton closed at 67.35, up 36 points

--- provided by Brugler Marketing & Management




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