Cotton futures were mixed to start the week, with contracts down 9 to 10 points higher. Crude oil was up $6.54 on the day following increased tensions with the US and Iran. The US dollar index was up $0.325.
Monday afternoon’s Crop Progress showed 60% of the US cotton crop squared as of Sunday, 1% ahead of normal. The crop was also 22% setting bolls, matching the 5-year average pace. Condition ratings were pegged at 44% good/excellent, down 2 percentage points on the week. The Brugler500 index was down 1 points to 331.
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The Seam reported 131 bales sold in their online sale, at an average of 76 cents. The Cotlook A Index was unchanged on July 10 at 89.75 cents. ICE certified cotton stocks were down 31,480 bales on 7/10 via decertification, with the certified stocks level at 127,127 bales. The Adjusted World Price was back up 92 points last week to 62.86 cents/lb.
Oct 26 Cotton closed at 79.83, down 9 points,
Dec 26 Cotton closed at 81.51, down 3 points,
Mar 27 Cotton closed at 82.93, up 2 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.