Futures fell another nickel in the March and December contracts, going home at the low of the day on a second limit loss. The market will be closed Sunday evening and Monday for Labor Day but will resume trading Monday evening. For the week, that left December 14.47 cents (12.3%) lower than last Friday. Economic concerns were front and center, notably the Chengdu COVID lockdown in China and recession nervousness in the US. 

Weekly CFTC data had cotton spec traders buying cotton during the week that ended 8/30. That extended the group’s net long by 3,115 contracts to 53,893. Commercial cotton traders were shown adding hedges during the week, extending their net short by 2,411 contracts to 77,346. 

USDA’s weekly Cotton Market review showed 2,864 bales were sold at spot through the week that ended 9/1, for an average price of 120.45 cents/lb. The Sep 1 Cotlook A Index (old crop) was up a penny to 131.60 cents/pound. USDA’s FSA raised the AWP for cotton by 38 points to $1.04 86/100 per pound. 

Dec 22 Cotton  closed at 103.21, down 500 points,

Mar 23 Cotton  closed at 100.14, down 500 points,

May 23 Cotton  closed at 97.79, down 458 points