Cotton #2 Futures PricesFri, Apr 24th, 2015
Latest Brugler Cotton #2 Report
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Cotton futures closed strongly higher again after a surprisingly robust export sales report on Thursday, and with support added by a sharply lower US dollar index, which is improving affordability. May finished the week with a gain of almost 2 cents. The Cotlook A Index was UNCH at 69.75. April 23 certified stocks were 72,131 bales with 1,933 new certs. USDA set the AWP for April 24-30 at 48.56, bumping up the LDP/MLG for this week to 3.44 cents. Spot transactions reported by USDA for the week ended April 23, totaled 8,395 bales. This compares with 6,070 bales last week 2,100 bales reported a year ago. Total spot transactions for the season were 1,986,755 bales, compared with 1,261,079 bales the corresponding week a year ago. Managed money accounts took a net 14,992 contracts off of their net long position in cotton futures and options, making them net long 35,345 contracts at the end of the reporting period on last Tuesday night.
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