Cotton #2 Futures PricesFri, Feb 5th, 2016
Latest Brugler Cotton #2 Report
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Cotton futures settled mixed on the day. They were 10 and 26 points lower in May16 and Mar16 respectively, but 3 to 12 cents higher from thereon out. The Friday trade extended triple digit losses from Thursday in the front two contracts. Mar16 cotton was down 116 points from last Friday, a decline of nearly 2% on the week. Managed money reduced their net long position by 2,476 contracts during the week ending 2/2. The CFTC report stated that the updated position held as of the close on Tuesday was 24,841 contracts. USDA reported that exporters shipped only 642,900 RBs in December 2015, down from 1.025 million RBs in December 2014. The Cotlook A Index was down 25 points to 68.70. ICE reported that there were 26,916 certified bales in warehouses on February 4, with 704 new certs and no decertified bales. The USDA AWP for this week is 46.85, with the LDP/MLG returning to 5.15 cents for the week after being 5.11 cents last week.
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