Cotton futures ended the busy Friday session with most contracts lower, as traders were taking profits ahead of the long weekend. The US dollar was down 950 points on the day. The USDA showed the 2017 cotton crop at 21.26 million bales this morning, down 0.18 from December. Yield was cut 3 lbs/ac to 899, as exports were left UNCH at 14.8 million bales. US ending stocks were trimmed 100,000 bales to 5.7 million bales on lighter production. World stocks were reduced slightly to 87.79 million bales. The Cotton Ginnings report indicated 16.153 million bales were ginned as of Jan 1, a 2.149 million bale jump from Dec 15 and 16.6% larger than last year. The USDA Adjusted World Price (AWP) was increased 35 points to 71.21 cents/lb on Thursday. The Cotlook A Index for January 11 was 130 points higher than the previous day at 90.35 cents/lb.
Mar 18 Cotton closed at 81.680, down 97 points,
May 18 Cotton closed at 81.960, down 100 points
Jul 18 Cotton closed at 82.220, down 78 points