Dec cotton was the outsider for the market, closing the last trade day with a 3 point gain. Dec finished the week 27 points above last Friday’s settle. The other active futures were 3 to 68 points in the red for the day, leading May to a weekly pullback of 241 points.  

CFTC reported the cotton spec traders were dropping longs and adding new shorts during the week that ended 3/19. That reduced their net long by 3.6k contracts to 89,522. Commercial cotton hedgers reduced their net short by 4.6k contracts to 127.9k. 

USDA’s weekly Cotton Market review showed 3,612 bales were sold at spot for the week, averaging 87.14 cents/lb. The season’s total cash sales reached 796k bales vs 494k bales last year and 1.54m bales 2yr ago. The Cotlook A Index for 3/21 was 85 points lower to 97 cents flat. The AWP was revised 360 points lower to 72.50 cents per pound, in effect for farm program purposes through next Thursday. ICE certified stocks were shown at 41,756 bales as of 3/20.

May 24 Cotton  closed at 91.53, down 68 points,

Jul 24 Cotton  closed at 91.85, down 41 points,

Dec 24 Cotton  closed at 83.95, up 3 points