By Keith Brown, DTN Contributing Cotton Analyst 

The cotton market overcame weaker export-sales data to end its Friday session higher. In fact, all trading months again posted new life-of-contract highs, albeit on tenuous volume. As measured by March cotton, for the week, the market finished 1.68 cents, for the month 8.31 cents higher, and for the year, up 10.83 cents.

Monday is the first day for delivery notices for the March contract. With its unexpected high price and increased certificated stocks, there is a strong possibility that some amount of notices will be issued. Delivery will run through the expiration of the spot contract, which is March 9. Incidentally, March 9 is also the date for the next supply/demand update from USDA.

The CFTC will update its commitment-of-traders data later Friday. At last count, the managed-money funds were net long some 68,000-plus contracts. That is equivalent to controlling some 6.80 million bales of cotton. Earlier in this rally, they had risen to about 80,000-contracts net long. So, there may be room for more buying at this point.

Friday, March cotton closed at 88.95 cents, up 0.22 cent, July settled at 91.21 cents, up 0.17 cent and December cotton ended at 85.50 cents, up 0.42 cent; estimated volume was 27,708 contracts.