Cotton futures came back to end the day with losses of 3 to 36 points in the front months, as deferred contracts were 5 to 54 points higher. July posted a loss of 5.03% on the week. The new AWP is 67.31 cents/lb through next Thursday, down 72 points from the previous week. China sold 18,900 MT of the 30,200 MT of cotton offered at an auction of state reserves on Friday. On the week they sold 91,200 MT of the 150,200 MT offered. The Cotlook A index for June 15 was 80 points lower to 84.70 cents/lb. The COT report showed managed money continuing to decrease their net long position in cotton futures and options by 11,012 contracts to 68,915 contracts as of Tuesday. This is the smallest net long position since mid-November 2016.
Jul 17 Cotton closed at 71.880, down 3 points,
Oct 17 Cotton closed at 70.860, down 36 points
Mar 18 Cotton closed at 69.420, down 2 points