Cotton #2 Futures PricesFri, May 27th, 2016
Latest Brugler Cotton #2 Report
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Cotton futures settled mostly 5 to 9 points lower, after being was much as 75 lower previously in the session. The Jul16 contract posted a 101 point range on the day, and was up 261 points on the week. After being over $50/barrel on Thursday for the first time in 2016, crude oil was mostly quiet on Friday, with gains of only a few cents. Managed money grew their net long position to 28,169 contracts during the week ending May 24.The Cotlook A Index was unchanged at 71.45. ICE reported that there were 95,362 certified bales in warehouses on May 26, with 1,160 new certs and no decertified bales. There were 4,312 bales awaiting review. The USDA AWP for the new week is 51.50, up from 50.42 last week. That cut the LDP/MLG to 0.50 from 1.58 cents.
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