Cotton #2 Futures PricesTue, Aug 4th, 2015
Latest Brugler Cotton #2 Report
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Cotton futures are currently 35 to 50 lower. Weekly USDA crop condition ratings showed a mixed picture, with 1% of the crop moving from good to excellent, while 2% of the crop moved from the fair category down to the poor column. Cotton setting bolls was at 57% as of Sunday night, 7 points behind the 2010-2014 average. Texas bolls (44%) are 11 points behind the 5 yr avg. Squaring at 92% is 2 points behind average. Texas squaring (89%) is 5 points behind the average. The Cotlook A Index is up 70 points to 72.10. ICE reports that there are currently 109,088 certified bales in stock, with 3,269 decertified bales, and no new certs or bales awaiting review. On Thursday night, USDA set the AWP at 49.54 and increased the LDP/MLG to 2.46 cents through August 6.
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