Cotton Higher on Friday

Cotton futures saw gains of 72 to 91 points in the front months on Friday. The US dollar was down on the day, with crude oil back up 72 cents/barrel. July cotton was up 3.64% this week. The market will be back open for the Monday night session, in observance of the Memorial Day holiday. The CFTC Commitments report released on Friday indicated the large specs in cotton futures and options increasing their net short position by 12,258 contracts. That put them net short a record reported 37,086 contracts in the week ending May 21. USDA data shows cotton export shipments at 70% of USDA’s projected total, with the average pace at 78%. Including the unshipped sales, total commitments are 107% of that projection, with the average pace at 101%. The Cotlook A index for May 23 was down 55 points from the previous day to 77.75 cents/lb. The weekly Average World Price (AWP) is now 59.37 cents/lb, down 14 points from last week.

Jul 19 Cotton closed at 68.390, up 91 points,

Oct 19 Cotton closed at 67.990, up 76 points

Dec 19 Cotton closed at 67.550, up 72 points

--provided by Brugler Marketing & Management




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!


Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.