Cotton #2 Futures PricesFri, Sep 23rd, 2016
Latest Brugler Cotton #2 Report
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Cotton futures lost 139 to 209 points on Friday. Dec futures were still up 279 points on the week. The weekly Commitment of Traders report showed managed money accounts collectively adding 3,852 contracts to their net long position during the week ending September 20. The spec net long position was shown to be larger than that of the Index funds, after dipping below it a week earlier. Cotton export sales were shipments were up more than 25% week/week, but well below their prior four week average. Net sales of upland cotton were up 45% from a week ago, but also far below their prior four week average. As we anticipated, the weekly AWP rose to 58.85 from 57.79 last week. It will be in effect through next Thursday. The Cotlook A Index is at 80.60, up .90 for 9/22.
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