By Keith Brown, DTN Cotton Correspondent 

The cotton market ended Friday’s session quietly lower, as did so many other outside markets. From the Dow to crude to corn, and yes cotton, volumes were low and ranges were fairly tight. This momentary malaise can be attributed to “trading exhaustion,” which was precipitated by Monday’s spot crude sub-zero delivery debacle.

Of course, the market entered Friday’s session significantly higher on the week and the month, thus a downward correction was to be expected.

Next week continues the saga of spot May cotton’s delivery period. As of Friday, there were no notices issued. Additionally, next week will mark the end of calendar April, which suggests volatility will pick up as traders potentially square up positions.

To that end, Friday afternoon, the CFTC will issue its latest commitment-of-traders information. As they stand, managed money speculators remain net short.

This week exports-sales did report a positive number, although the trade was set for more cancellations. Congress passed another nearly $500 billion aid package for small businesses upended by the coronavirus. This week’s jobless claims increased another 5.20 million people, sent the total number of unemployed Americans above 25 million.

For the week, July cotton finished 2.92 cents up on the week and 4.78 cents on the month.

For the day, May cotton at 54.93 cents, down 1.95 cents, July cotton ended at 55.63 cents, down 0.74 cent and December finished 57.67 cents, down 0.48 cent. Friday’s estimated volume was 16,483, which is the lowest level since last Thanksgiving.