Cotton #2 Futures PricesTue, Nov 24th, 2015
Latest Brugler Cotton #2 Report
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Cotton futures settled 11 to 44 cents higher, with nearby Dec15 the strongest. Dec15 cotton traded higher for the second day in a row, correcting from the drop of 154 points last Friday. Mar16 cotton reversed its two-day slide and closed 34 points higher today. Weekly Crop Progress data showed the national cotton harvest was still 12 points behind the five year average pace, with 30% still in the field as of Sunday night (11/22/2014: 24%). Harvest wrapped up in AR and LA last week. The Texas harvest is still 15 points behind at 60% complete. The Cotlook A Index was 69.35, down 25 points from the previous day. ICE reported that there were 59,664 certified bales in delivery warehouses on Nov 23, with 715 new certs and no decertified bales. There were 3,263 bales awaiting review. USDA put the AWP for this week at 46.88 and dropped the LDP/MLG to 5.12 from 5.41 cents last week.
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