Cotton #2 Futures PricesFri, Oct 24th, 2014
Latest Brugler Cotton #2 Report
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Cotton futures were 25 to 77 points higher on the session, but December picked up 73 points, or 1.16% on the week. Managed money accounts were shown reducing their net long position in cotton from the previous week by a net 882 contracts. They are now net long 4,548 contracts according to the weekly report from the CFTC. 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. Cert stocks for Dec futures delivery are currently at 15,928 bales. The LDP for this week is 2.70 cents per pound.
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