Cotton futures closed lower on Friday, with March holding a 105-point gain for the week. Crude oil futures were down slightly, while the US dollar index also fell. The markets will be closed on Monday for President’s Day. USDA reported a 12% decrease in cotton export commitments compared to last year. CFTC data showed an increase in the spec net short position. The Seam reported sales of 15,617 bales on 2/12. ICE certified cotton stocks rose by 3,808 bales. Adjusted World Price was lowered to 49.39 cents/lb. Cotton prices closed lower for March, May, and July contracts. Austin Schroeder did not have positions in mentioned securities. Information in this article is for informational purposes only.

Read more at Yahoo Finance: Cotton Slips Lower into the Long Weekend