Cotton futures saw gains of 35 to 184 point gains across the board on Tuesday. Crude oil was down $4.08 at $76.673. The US dollar index was down $0.071 at $99.305.
Monday afternoon’s Crop Progress showed 86% of the US cotton crop planted as of Sunday, 2% behind the average pace, with 19% squared, 2% ahead of normal. Condition ratings were pegged at 51% good/excellent, down 2 percentage points on the week. The Brugler500 index was up 1 to 346 as 3% shifted from very poor to fair. Conditions in TX were up 5 points, with GA improvising 2.
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West TX and the panhandle are looking at a drier pattern in the next week with the eastern half of the state through GA seeing heavy rainfall totals of up to double digits in some areas of the Gulf.
The Seam reported just 396 bales sold on June 15 at an average price of 68 cents. The Cotlook A Index was up 30 points on 6/15 at 85.05 cents. ICE certified cotton stocks were unchanged on Monday with the certified stocks level at 192,699 bales. The Adjusted World Price was down another 194 points last week at 61.26 cents/lb.
Jul 26 Cotton closed at 75.01, up 158 points,
Dec 26 Cotton closed at 77.75, up 94 points,
Mar 27 Cotton closed at 79.06, up 94 points
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.