Cotton futures edged higher on Friday, closing with gains of 4 to 49 points, though the July contract remains down 81 points for the week and the December contract slipped 106 points. Crude oil fell $3.50 to $84.21 per barrel, while the U.S. Dollar Index slipped $0.054 to $99.795.
According to CFTC data, managed money reduced its net short position in cotton futures and options by 10,198 contracts, bringing the short stance to 42,204 contracts as of Tuesday.
The USDA’s latest Export Sales report shows old‑crop cotton commitments at 11.541 million river bales, which is 101 % of the revised USDA export projection and behind the typical 110 % sales pace. Shipments reached 9.183 million river bales, representing 80.3 % of the USDA estimate and below the 82 % average shipping pace.
The Seam reported sales of 1,071 bales in Thursday’s online auction, with an average price of 63.24 cents per pound. The Cotlook A Index held steady at 83.65 cents on June 11. ICE certified cotton stocks declined by 90 bales on June 12, leaving certified stocks at 192,699 bales. The Adjusted World Price slipped another 194 points on Thursday to 61.26 cents per pound.
July 26 cotton closed at $0.7294, up 45 points; December 26 cotton closed at $0.7642, up 6 points; and March 27 cotton closed at $0.7764, up 4 points.