Cotton futures were 73 to 120 points higher in the front months on Friday, as May posted a 2.74% gain this week. A weaker US dollar index was supportive. The Cotlook A Index was up 95 points on March 14 to 84.30 cents/lb. The USDA Adjusted World Price (AWP) was updated to 64.10 cents/ lb on Thursday, up 68 points from the week prior. Export Commitments for 18/19 upland cotton are now 11.8% below a year ago as sales have been lagging. They are 88% of USDA’s full year projection, just 1% below the average pace. Spec funds added 1,706 contracts to their CFTC net short position as of March 12, with the position at 20,007 contracts on that date.
May 19 Cotton closed at 75.500, up 120 points,
Jul 19 Cotton closed at 76.600, up 115 points
Oct 19 Cotton closed at 75.060, up 73 points
--provided by Brugler Marketing & Management