Cotton #2 Futures PricesWednesday, Jun 19th, 2013
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Latest Brugler Cotton #2 Report
Cotton futures are trading 50 to 80 points lower this morning, with the exception of July futures. They are 5-10 higher after losing 758 points from last Friday’s high to the Tuesday settlement. The Cotlook A Index is down 1.75 cents today at 94.30. With planting wrapping up, fundamental bulls are having a tough time making a case besides dryness in Texas. Cert stocks continue to climb ahead of first notice day. Today they are at 545,805 bales, with 3,588 new certs issued. There were 2,200 bales decertified. USDA shows 58,282 bales awaiting review. The backlog continues to grow. A private acreage estimate released this morning anticipates US plantings at 10.371 million acres.
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