Cotton futures are trading 69 to 75 points lower thus far in the new week. The US dollar index is sharply higher, extending a rally that began on Wednesday. Cotton futures did little on Friday. For March futures the 1 point Friday gain extended the week’s advance to 165 points. The online cotton trading platform The Seam reported 13,293 bales sold on Jan 7th. WTD sales through Thursday were 66,378 bales for a wtd average price of 72.37 c/lb. USDA’s weekly Cotton Market Review reported sales were down 1,185 bales to 67,350 on the week ending 01/07. The average spot price for the week’s sales was 75.34 cents/lb. Managed money was 70,712 contracts net long in cotton on January 5, per the latest Commitment of Traders report. That was a weekly increase of 2,283 contracts. Commercials were reported 7,797 contracts more net short to 147,069 contracts. The Cotlook A index pulled back a quarter of a cent to 86.55 cents/lb. The AWP was reduced 78 points to 62.25 cents/lb.
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