Alan Brugler –Barchart

Fri Sep 15,

Friday’s pullback limited the week’s net gain with 10 to 136 point losses for the day. December was down the most, but held onto a net 53 point gain for the week. March futures ended the week up by 127 points Friday to Friday, and are now at a 92 point premium to December. Friday’s Dollar Index cooled off after an impressive run from $99.26 in July to a 6-mo high $105.43 – including a $0.180 point rally this week. 

The weekly Commitment of Traders report showed long liquidation from managed money cotton traders. That reduced the groups net long by 5,217 contracts to 46,954. Commercial hedgers closed shorts and added longs through the week for an 8,313 contract weaker net short of 95,097 contracts. 

USDA reported 115,508 bales were classed in TX this week and 713 bales were classed in confidentiality protected other states. The season’s total reached 648,087 bales. That compares to last year’s 683,303 bales pace. 

USDA’s weekly Cotton Market Review had 9,947 bales sold at spot for an average price of 81.19 cents/lb. The Cotlook A Index was 115 points weaker on 9/14 to 97.5 cents/lb. The AWP for cotton was lowered 1.6 cents to 71.95 cents/lb. ICE Certified Stocks were 2,652 bales on 9/8. 

Dec 23 Cotton  closed at 86.44, down 136 points, Mar 24 Cotton  closed at 87.36, down 87 points, May 24 Cotton  closed at 87.84, down 57 points. (Source: