Cotton Futures Slide on Friday; Net Short增至71,746 Contracts

Cotton futures fall 40–70 points in front-month contracts Friday, with March down 211 points this week. Crude oil up 21 to $63.50/bbl; the dollar index at 97.650 (-0.141). Speculators added 6,717 contracts to a net short of 71,746 in cotton futures and options as of Feb 3. US export commitments stood at 7.8 million bales as of Jan 29, 12% below last year, at 68% of the USDA forecast, below the 86% average. Online sales averaged 54¢/lb on 592 bales; Cotlook A at 73.20¢/lb up 5 on Feb 5; ICE certified stocks 74,997 bales, up 27,344 from 2/5; Adjusted World Price 49.78¢/lb (-42). Mar 26: 61.06 (-70) May 26: 63.04 (-46) Jul 26: 64.83 (-43)