Cotton Close Lower on Friday

Front month cotton futures were down 64 to 75 points on Friday, but Dec contracts maintained a 137 point gain for the week. From Friday to Friday, the Dec to March carry fell 9% to 0.58 cents (0.08%). Chinese cotton futures have closed red for three consecutive days on the Zhengzhou Commodity Exchange. Nov futures were down 6.5% from the 17 month high set three days earlier. Carry to Jan and March was 1.7% and 2.5% from Nov respectively. CFTC data showed managed money’s net long increased 5,253 contracts to 65,195 on 10/20. The week’s sales on The Seam were 17,641 bales for a wtd average price of 66.48 cents through Thursday. USDA’s Cotton Market Review had the week’s average cash price at 65.27 cents for the week ending 10/22. That was up 2.19 cents wk/wk and 3.78 cents above the same week last year. The Cotlook A index was firm at 76.85 cents/lb on 10/22. The AWP for the week is 55.71 cents/lb.

Dec 20 Cotton closed at 71.29, down 65 points,

Mar 21 Cotton closed at 71.87, down 64 points

May 21 Cotton closed at 72.45, down 64 points

Jul 21 Cotton closed at 72.86, down 68 points

--- provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.