Cotton Closes Mostly Higher

Cotton futures closed the day with 7 to 20 point gains in the front months, thinly traded Oct down 49 points. Dec gained 6.32% this week. China did give tariff exemptions from the second round of implementation to several US ag goods, though there was no word on if cotton made the list. CFTC data showed specs trimming their net short position to 34,564 contracts by trimming 4,717 contracts in the week ending 9/10. On Thursday, USDA raised estimated world carryout for 18/19 by 1.3 to 83.75 MMT. Chinese imports were reduced by 0.5 MMT to 10 MMT, as Australian production was down 0.5 MMT to 1.4 MMT. The Cotlook A Index was unch on September 12 at 70.90 cents/lb. The weekly AWP is 52.28, up from 51.57 last week and effective through next Thursday.

OCT 19 Cotton closed at 61.76, down 49 points,

DEC 19 Cotton closed at 62.28, up 7 points

MAR 20 Cotton closed at 62.78, up 20 points

MAY 20 Cotton closed at 63.39, up 19 points

-- provided by Brugler Marketing & Management




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