Cotton futures saw sharp front month losses of 125 to 148 points in the old crop, with other contracts down 12 to 87 points. Crude oil was down another 81 cents/bbl to $73.19. The US dollar index is up another $0.391 at $101.165.
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. Ratings in TX were down 8 points, with GA slipping 3 points.
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The Seam reported 501 bales sold on Monday at an average price of 71.92 cents. The Cotlook A Index was steady on June 22 at 88.60 cents. ICE certified cotton stocks were unchanged on 6/22 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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