Cotton #2 Futures PricesFri, Oct 24th, 2014
Latest Brugler Cotton #2 Report
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Cotton futures are trading higher this morning, with Dec up 32 points and the May contract is 2 points higher. Estimated futures volume on Thursday bounced back up to around 17,500 contracts, vs. 12,926 officially on Tuesday. Cert stocks for Dec futures delivery are currently at 15,928 bales. USDA reported 86,000 RB of US cotton was sold into the export market last week. This included 4,700 RB of pima, with the balance upland varieties. Export commitments as a percent of total projected 2014/15 exports are at 61%, several points ahead of the 5 year average for this date of 53%. They were only 41% after this week last year. The LDP for this week is 2.70 cents per pound.
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