Cotton #2 Futures PricesWed, Nov 25th, 2015
Latest Brugler Cotton #2 Report
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Cotton futures finished the Wednesday trade at least 100 points higher after closing 11 to 44 cents higher on Tuesday. Nearby Dec15 was up 138 points today. The bi-monthly USDA Cotton Ginnings report showed that 2.052 million bales were ginned during the Nov 1-14 period, down 9% from the October 15-31 period. Accumulated upland ginnings are now reported at 5.738 million bales, down 40.4% from the previous 15 year average for this date. Ginnings to date in Texas total 2.186 million bales, down 5.4% from the same time frame in 2014. The Cotlook A Index is 105 points lower to 68.30, the lowest since October 6. ICE reported that there were 59,771 certified bales in delivery warehouses on Nov 24, with 1,023 new certs and 916 decertified bales. There were 2,136 bales awaiting review, all of which are at the Memphis delivery point. 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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