Cotton futures increased by 41 to 177 points on Friday, with July contracts closing up 54 points for the week, reaching 84.73 cents. Managed money added 12,829 contracts to their net long position, bringing it to 51,184 contracts, the highest since April 2024. The USDA’s Export Sales report indicated cotton sale commitments of 10.82 million running bales (RB), 1% lower than last year and at 96% of the USDA’s full-year export estimate.
Actual shipments totaled 7.72 million RB, representing 69% of the USDA’s projection. The Cotlook A Index fell to 93.80 cents, while ICE certified cotton stocks remained steady at 182,132 bales as of May 8.
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