Cotton futures saw mixed trade on Friday, as contracts were 7 points lower to 10 points higher. May was up 230 points on the week. The US dollar index was $0.104 lower at $98.485. Crude oil was down $2.24 on the day, as risk was taken off the table ahead of the US/Iran talks this weekend.
Managed money was slashing another 10,206 contracts from their net short in cotton futures and options in the week of April 7. That took their near record (in mid-February) net short to just net short 2,020 contracts.
