Cotton Market Commentary

Cotton futures are posting strong 139 to 150 point gains at midday, on concerns about storm damage from Hurricane Florence. Updated forecasts for Florence are calling for the hurricane to hit land on Thursday or Friday as a Category 3 or 4 hurricane. Friday’s Commitment of Traders report indicated that specs in cotton futures and options held a net long position of 65,798 contracts as of Tuesday. That was 2,140 contracts fewer than the week prior and the least bullish position since November of 2017. The Cotlook A index was down 55 points from the previous day at 91.00 cents/lb on September 7. The USDA weekly AWP was updated to 73.77 cents/lb, down 49 points from the previous week.

Oct 18 Cotton is at 83.56, up 143 points,

Dec 18 Cotton is at 83.49, up 150 points

Mar 19 Cotton is at 83.85, up 145 points

May 19 Cotton is at 84.110, up 139 points

Market Commentary provided by:

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