Cotton #2 Futures PricesSat, Jun 25th, 2016
Latest Brugler Cotton #2 Report
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Cotton futures ended the Friday session with 38 to 104 point losses. Front month Jul16 cotton held the firmest. That contract was down just 7 points on the week. Managed money cut their CFTC net long position by 5,573 contracts during the week ending June 21.India has contracted to import 20,000 bales of Pakistani cotton later this month, due to a rise in domestic cotton prices brought on by a shrinking supply. A Reuters report stated that Indian cotton prices have climbed by 28% since October 1, 2015. The Cotlook A Index was 60 points higher to 74.55. ICE reported that 135,162 certified bales were in storage warehouses on June 23, with only 1 new cert and no decertified bales. There were no bales awaiting review. The USDA pegged the AWP for the upcoming week at 55.48, up 108 points from last week. The LDP/MLG for the week is once again zero.
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