Cotton Market News and Commentary
BRUG - Fri Mar 08, 5:15PM CST

Cotton futures settled with 12 to 38 point gains in the front months on Friday. USDA left the US cotton balance sheet UNCH this morning, with the only adjustment going to the average farm price range, down 2 cents to 69-71. World ending stocks were up 509,000 bales to 76.09 million on larger Brazil production. The Cotlook A Index was down 40 points on March 7 to 82.25 cents/lb. The USDA Adjusted World Price (AWP) was updated to 63.42 cents/ lb on Thursday, up 75 points. The Cotton Ginnings report indicated that 17.471 million bales had been ginned as of March 1, down 10.67% from the same time last year. Spec in cotton futures and options trimmed their net short position, now at 18,301 contracts, by 2,723 contracts in the week of 3/5.

May 19 Cotton closed at 73.490, up 38 points,

Jul 19 Cotton closed at 74.630, up 33 points

Oct 19 Cotton closed at 73.990, up 24 points

--provided by Brugler Marketing & Management

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