Cotton #2 Futures PricesTue, Apr 22nd, 2014
Latest Brugler Cotton #2 Report
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Cotton futures closed 34 to 132 points higher on the day. Outside markets in the US helped provide a positive influence with the S&P 500 futures up 10 handles at 1875. ICE Certified stocks were reported @ 292,117 bales, with 7,742 new certs, 0 decerts and 4,296 bales awaiting review. The Cotlook A Index is down 0.85 at 93.00. USDA reported that 9% of the US cotton crop is planted vs. 10% last year and the 5 year average of 12%. California is ahead of the average (due to the drought), currently at 90% done vs. the 45% average. Acreage will be much smaller, however.
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