Cotton Futures Higher wk/wk

Cotton futures made gains of 16 to 31 points on Friday, helping to push the wk/wk gains to 28 points for upcoming Dec. December cotton options expired today. The Cotton Ginnings report showed that the MY total cotton ginned is up to 6.249 million (480-lb) bales. Cotton yield was down 34 to 799 lbs per acre in the Crop Production report, 7.5% lower than last year. The ending stocks estimate was reduced to 6.1 million bales from 7 million in the October WASDE report. USDA’s world cotton ending stocks figure tightened to 80.8 million bales from 83.69 million in October. They project the 19/20 MY world exports to be 42.91 million bales. Managed Money, as the CFTC reported, expanded their net short position for cotton by 150% wk/wk, and as of 11/5 was net short by 15,247 contracts. The Cotlook A Index for 11/7 was down by 25 points, to 74.70 cents/lb. The AWP is now 56.63 cents/lb, down

DEC 19 Cotton closed at 64.79, up 16 points,

MAR 19 Cotton closed at 66.35, up 31 points

MAY 20 Cotton closed at 67.6, up 25 points

JUL 20 Cotton closed at 68.73, up 19 points

--provided by Brugler Marketing & Management

70 points from the previous week.




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