Cotton #2 Futures PricesTue, Sep 30th, 2014
Latest Brugler Cotton #2 Report
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Cotton futures are currently trading mixed with December higher, and March lower. The crop production report published by the USDA this morning showed all cotton production forecasted to be 16.5 million bales. Yield is expected to average 803 bales per harvested acre. The US Dollar index is sharply higher again today. In the weekly Crop Progress report the overall condition rating improved slightly from last week. The crop is about 10% harvested vs. the 5yr avg of 13%, and 64% of the crop has bolls opening vs the 5yr avg of 70% for this week of the year. The AWP for this week has dropped to 50.94, resulting in potential LDP payments. ICE Certified stocks were 18,545 bales. The Cotlook A Index is at 69.95, down 0.50.
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