Cotton futures traded both sides on Friday, amounting to a 133 point range for December futures. Prices were ultimately 34 to 41 points lower at the close. December went into the weekend a net 3 points higher Friday to Friday.
CFTC reported cotton spec traders were net new buyers in the cotton market during the week that ended 8/1. The 7.5k new longs left the group 36,365 contracts net long. Commercial cotton hedgers added shorts for a 6.8k contract stronger net short of 93,197.
The weekly Cotton Market Review reported 3,094 bales were sold at spot for an average price of 80.21 cents/lb. The Cotlook A Index was 165 points weaker on 8/3 at 95.60 cents. The AWP for cotton increased by 45 points to 70.19 cents/lb. ICE Certified Stocks were reported at 560 bales for 8/3.
Dec 23 Cotton closed at 84.29, down 41 points,
Mar 24 Cotton closed at 84.4, down 41 points,
May 24 Cotton closed at 84.5, down 38 points
Source: barchart.com