Cotton #2 Futures PricesThu, Jul 2nd, 2015
Latest Brugler Cotton #2 Report
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Cotton futures finished the weekly trade 27 points higher in both July and October, but 15 and 4 points lower in December and next March. For the week, cotton futures finished 80 points lower. USDA reported net weekly export sales of 143,200 running bales, including 52,300 RB of old crop. Total export sales were 16.63% ahead of the week ending June 18. Total net sales in June were 237,128 RB, only 71.4% of the May export sales according to weekly data. The marketing year for old crop ends on July 31. The Cotlook A Index is up 50 points to 74.80, while the Forward A Index is up 45 points to 77.20. Current certified bale stock according to ICE is steady today, with 167,195 bales, with 15 new certified bales, and 385 decertified bales. There are 264 bales awaiting review. ICAC increased estimated world cotton ending stocks for 2013/14, 2014/15 and 2015/16 yesterday with a cumulative increase of 110,000 MT in 2015/16 (old crop carryover rolls into new crop stocks).
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