Archive for February, 2015
Thursday, February 26, 2015 – Daily Cotton Brief
By admin in Daily ReportsMay cotton futures gave up 34 points D/D post the dissemination of weak but positive export sales data and shipment data that lagged the pace requirement to meet the USDA’s export target. May settled at 65.21, within the lower one quarter of today’s 117 point trading range.
For tomorrow…
Thursday, February 26, 2015 – Cotton Futures Slip on Weak Export Data & Surging USD
By admin in Daily ReportsMay cotton futures gave up 34 points D/D post the dissemination of weak but positive export sales data and shipment data that lagged the pace requirement to meet the USDA’s export target. May settled at 65.21, within the lower one quarter of today’s 117 point trading range. The July contract lost 26 points, settling at 65.64; the net effect leaving the May – July spread weakened at (43).
For tomorrow…
Thursday, February 26, 2015 – US Weekly Export Sales Report Results
By admin in UncategorizedTotal net export sales of cotton against the current MY for the week ending Feb 19 were reported at 78.1K RBs, well ahead of the pace required to meet the USDA’s 10.7M bale export target. Sales cancellations for the period were 8.6K RBs, down sharply from the last two reports. Total export shipments for the period were 1944K RBs, short of the pace required to meet the USDA’s export target.
Total commitments now stand at approximately 93% of the USDA’s export projection. Net sales will need to average about 33K RBs per week in order to meet the target while shipments will need to average approximately 264K RBs per week.
We take today’s sales and shipment data to be mostly neutral.
