Cotton futures rounded out the Monday trade with contracts down 12 to 95 points lower. Crude oil was down another $1.41/bbl to $75.19. The US dollar index was up another $0.152 at $100.770.
Monday afternoon’s Crop Progress showed 92% of the US cotton crop planted as of Sunday, 2% behind the average pace, with 27% squared, 2% ahead of normal. The crop was also 5% setting bolls, matching the 5-year average pace. Condition ratings were pegged at 53% good/excellent, up 3 percentage points on the week. The Brugler500 index was down 1 point to 345.
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CFTC data showed managed money trimming their net short in cotton futures and options by 7,068 contracts to 35,136 contracts by Tuesday.
The Seam reported 3 bales sold on 6/19 at an average price of 65 cents. The Cotlook A Index was steady on Friday at 88.60 cents. ICE certified cotton stocks were down 1,575 bales on June 19 with the certified stocks level at 189,447 bales. The Adjusted World Price was down another 111 points last week at 62.37 cents/lb.
Jul 26 Cotton closed at 75.21, down 84 points,
Dec 26 Cotton closed at 79.41, down 26 points,
Mar 27 Cotton closed at 80.77, down 28 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.
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