Cotton Market Making Midday Gains

Cotton futures open the new week of trading with midday gains of 52 to 60 points in the front months. On Friday, the hard selling left Dec futures 30 points lower for the weekThe Commitment of Traders report with data from the week ending August 4, showed cotton spec fund traders were 31,335 contracts net long. That was an increase of 5,700 wk/wk from short covering. Sales reported on The Seam for last week were 55,775 bales at a wtd av price of 57.27 cents/lb. The Cotlook A index was 71.25 cents/lb on Aug 7, a 40 point bump. The AWP for cotton is 49.44 cents/lb through Thursday. The week’s LDP is 2.56 cents/lb.

Oct 20 Cotton is at 62.4, up 52 points,

Dec 20 Cotton is at 62.91, up 55 points

Mar 21 Cotton is at 63.71, up 52 points

May 21 Cotton is at 64.41, up 54 points

--- provided by Brugler Marketing & Management




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