Cotton Close Lower on Friday

Cotton futures ended the Friday session with most contracts 39 to 74 points lower. Commitment of Traders data for Tuesday showed spec traders in cotton futures and options at a record net short position of 47,428 contracts. Through the first few days of the new MY, cotton export commitments are 55% of the USDA export projection, vs. the 41% average. Last year at this time the 18/19 commitments were 63% of the projected total. The Cotlook A was unchanged on August 8 at 70.30 cents/lb. The weekly AWP is 52.67 cents/lb, down 4.29 cents from the previous week. Loan rate is 52 cents, below which cotton is eligible for LDP and MLG payments.

OCT 19 Cotton closed at 59.11, down 43 points,

DEC 19 Cotton closed at 58.84, down 74 points

MAR 20 Cotton closed at 59.83, down 59 points

MAY 20 Cotton closed at 61.11, down 39 points

--provided by Brugler Marketing & Management

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