Cotton #2 Futures PricesFri, Jan 23rd, 2015
Latest Brugler Cotton #2 Report
Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.
Cotton futures closed down almost a half cent today for a more-than-3% loss on the week. That despite USDA reporting net weekly export sales of Upland cotton at 470,300 RB, another new high for the marketing year, beating the record set last week by 7%. China was the top buyer with 175,500 RB. An additional 1,082 ICE certified stocks bales were added, bringing the total to 47,643. Cotton was one commodity in which index funds and managed money parted ways. The funds added more than 1,500 contracts to their longs in the CFTC report, bringing them to 39,824, while managed money deepened its short position by more than 7,300 to 10,889. The Cotlook A price is 66 cents, up 15 points as of Jan.22. USDA reports the following for Jan. 23-29: AWP, 45.59 cents; LDP, 6.41 cents. Average spot cotton quotations this week were 140 points lower than the previous week, according to USDA Agricultural Marketing Service. Spot transactions totaled 60,341 bales, down from 89,180 the prior week but above the 74,079 reported a year ago. Total spot transactions for the season, at 1.206 million bales, are 21% ahead of last year.
InsideFutures Softs News