Cotton #2 Futures PricesTue, Jul 28th, 2015
Latest Brugler Cotton #2 Report
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Cotton futures finished the Tuesday session with gains from 7 to 80 points. The front four contracts closed within a 34 point range. The US Dollar Index was up about 160 points today, and August crude oil futures were up about 32 cents/barrel. USDA had the crop about 3 points behind on squaring, and about 5 points behind the 5yr avg for setting bolls. Texas has 29% of its crop setting bolls, while its five year average is 37% for this week. Nearly half of the Texas crop was rated good or excellent. The national cotton crop condition rating saw a one point slide from excellent down to the good category. ICE reported that there are 120,060 certified bales in stock, with 2,801 decertified bales, no new certifications and no bales awaiting review. The Cotlook A Index is UNCH at 71.45. USDA found the AWP to be 50.02 cents and increased the LDP for this week to 1.98 cents from 1.14 last week.
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