Cotton futures are down 25 to 30 points in most contracts, with October down 129 points. Crude oil was down $4.30 per barrel, with the US dollar index back up $0.014.
The Monday Crop Progress report showed 88% of the US cotton crop squared as of Sunday, now even with the 5-year average. The crop was also 55% setting bolls, with 4% bolls opening. Condition ratings were pegged at 42% good/excellent, down 4 percentage points on the week. The Brugler500 index was down 11 points to 325. A large portion of that drop came in TX (-17 points), with GA up 1 point.
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Export data from Census showed June shipments at 1.245 million bales excluding linters, a 4 month low but a 4-year high.
The Cotlook A Index was back up 95 points on August 3 at 90.80 cents. ICE certified cotton stocks were down 1,235 bales on Monday via decertification, with the certified stocks level at 86,371 bales. The Adjusted World Price was raised by 84 points last week to 64.66 cents/lb.
Oct 26 Cotton is at 80.06, down 129 points,
Dec 26 Cotton is at 82.28, down 29 points,
Mar 27 Cotton is at 83.86, down 27 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.