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Cotton Close in Red

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Front month cotton futures closed the day 52 to 88 points in the red. Dec futures still closed 2.56 cents/lb above last Friday. Through July, Dec cotton rallied 1.66 cents. From USDA’s weekly Cotton Market review, the average spot price for cotton this week was 56.73 cents/lb. That was down 1.45 cents from last week’s average price with much more cash activity. The full week’s range was 55.67 to 58.53 c/lb. Through Thursday, 23,753 bales were sold at a wtd cash price of 58.89 cents/lb on The Seam. CFTC’s weekly data release showed cotton spec funds reduced their net long by 4,738 contracts to 25,635 on July 28. That came via long liquidation. The Cotlook A index was 50 points higher to 67.05 cents/lb on July 30. The week’s AWP is 47.71 cents/lb, down 133 points from last week. The updated LDP is 4.29 cents/lb.

Oct 20 Cotton closed at 62.3, down 52 points,

Dec 20 Cotton closed at 62.66, down 52 points

Mar 21 Cotton closed at 63.25, down 56 points

May 21 Cotton closed at 63.72, down 74 points

--- provided by Brugler Marketing & Management

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