Cotton Futures 39 to 43 Higher

Cotton futures are trading 39 to 43 points higher this morning. They fell 16 to 26 points on Friday with March futures the firmest. March futures closed 29 points higher for the week. The rate of expansion in Wuhan coronavirus cases appeared to have slowed slightly on the weekend. It is now over 40,500 cases, with 910 fatalities. The latest Commitment of Traders report from the CFTC had cotton spec traders 33,435 contracts net long on Feb 4. That was a weaker net long wk/wk, due to 2,968 managed money longs closing their position. The Seam reported 6,417 bales sold at an average gross price of 59.07 c/lb on 02/06, WTD sales through Thursday were up to 19,748 bales. The 02/06 Cotlook A index was steady, and remains at 76.55 cents/lb. The updated AWP for cotton is 58.44 cents/lb.

--- provided by Brugler Marketing & Management

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