Cotton futures finished the day with most contracts 6 to 40 points higher on Friday. The USDA projects an initial cash average range of 55-75 cents/lb for 2018/19, with the mid-point at 65 cents lower than the current 17/18 average. Managed money added 8,853 contracts to their net long position in cotton futures and options last week to put it at 97,865 on Tuesday. Thursday’s CFTC Cotton On-Call report indicated July unfixed on call sales at 55,085 contracts for the week of 5/4. That position was down only 469 contracts from the previous week.The Cotlook A index was up 40 points to 94.35 cents/lb on May 9. The Adjusted World Price was updated to 75.58 cents/lb, up 59 points from the week prior.

Jul 18 Cotton closed at 84.620, up 6 points,

Oct 18 Cotton closed at 82.020, up 40 points

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