By Keith Brown, DTN Contributing Cotton Analyst 

After a triple-digit loss overnight, the cotton market was able to slowly weasel its way back towards a more moderate negative close Friday. To reiterate from an earlier commentary, it has been quite a two-sided tumultuous week for cotton prices. Earlier in the week, the market fell some 5.00 cents, then sharply snapped back only to settle out a tad lower Friday.

Friday afternoon the CFTC will issue its commitment of traders report. Unfortunately, the current data is always a few days old, but traders can somewhat gage the probable slanting of the speculators.

The March U.S. Dollar Index expired Friday, paving the June contract to be the front month. Of late, there have been a lot of stirrings about rising interest rates. It has become some of a paradox that mammoth amounts of government stimulus, thought to be inflationary, are actually “scaring” short-term rates up.

Next week traders should focus on the impending acres intentions report from USDA. That data will be released on March 31. Currently, government tabulators are projecting acres at 12.00 million, fractionally lower than last year. Yet, the word from down on the farm suggests less cotton acres, due to competition from other row crops and high-priced inputs.

Friday, May cotton closed at 87.56 cents, down 0.79 cent, July settled at 88.57 cents, down 0.63 cent and December ended at 84.20 cents, down 0.69 cent; estimated volume was 25,509 contracts.