Cotton Down 7.2% This Week

Cotton futures fell another 202 points in July on Friday, closing down 7.2% on the week. Other contracts were 37 to 77 points lower. Friday’s Commitment of Traders report showed spec traders adding 144 contracts to their net short position of 30,385 contracts as of Tuesday. Total upland cotton export commitments are now 110% of USDA’s projection, compared to the 104% average, as shipments are behind normal pace (87%) at 80%. The Cotlook A index for June 20 was up 40 points from the previous day to 77.90 cents/lb. The weekly Average World Price (AWP) from USDA is now 59.14 cents/lb through next Thursday, up 17 points from the previous week.

Jul 19 Cotton closed at 61.190, down 202 points,

Oct 19 Cotton closed at 64.730, down 77 points

Dec 19 Cotton closed at 65.560, down 40 points

--provided by Brugler Marketing & Management

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