Vigotex - Cotton News 07/10/2022

Hi our beloved customers:

We would like to update cotton news by Vigotex:

• ICE 2022 Dec/ 12月/ Tháng 12: Closed/收于/Chốt phiên 84.23 c/lb, +1.33 cents/ 美分/ điểm;
• ICE 2023 Mar/ 3月/ Tháng 3: Closed/收于/Chốt phiên 82.66 c/lb -1.22 cents/ 美分/ điểm;
• ICE 2023 Mar/ 7月/ Tháng 7: Closed/收于/Chốt phiên 79.23 c/lb, +1.19 cents/ 美分/ điểm;

Estimated volume/ 估计数量/ Khối lượng giao dịch ước tính: 31.071 contracts/ 合约 / hợp đồng.

In an attempt to alleviate its "oversold condition," the cotton market finished higher Friday. Earlier in the session, the market was moderately lower, as the monthly jobs data essentially proved friendly to the U.S. dollar and unfriendly to the Dow Jones and other financial markets. Also, to some extent, part of Friday's strength may have been related to the fact that spot October cotton expires Friday.

          Friday afternoon, the CFTC will publish its latest breakdown of market participants. with emphasis on the closely-watched managed-money funds. At last count, those funds were some 41,000 contracts net long. At their 2022 Spring Peak they were over 90,000 contracts net long.

          Monday is Columbus Day, thus the federal government will be closed, but most markets, including cotton, will trade. As a result, the crop progress data will be delayed until Tuesday, and weekly export-sales are pushed back to Friday.

However, on Wednesday, USDA will issue its October WASDE, while the Commerce Department will publish its PPI number. Then on Thursday, they will publish its

CPI (inflation) numbers.

          Closing out Friday, December cotton finished down 1.11 cents for the week and the month, and down 8.42 cents for the month.