Cotton futures are facing losses of 50 to 55 points at midday on Tuesday. Crude oil is down 41 cents per barrel on the session, with the US dollar index $0.066 lower.
USDA’s weekly Crop Progress report showed 92% of the US cotton crop with bolls open, behind the 95% 5-year average pace. Harvest was at 63%, well above the 65% average pace.
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The Seam reported just 168 bales sold on 11/2, at an average of 67.89 cents/lb. The Cotlook A index was down 65 points on Monday at 89.55. ICE certified cotton stocks were unchanged on November 2, with the certified stocks level at 26,978 bales. The Adjusted World Price was down 50 points last week to 64.51 cents/lb.
Dec 26 Cotton is at 77.13, down 53 points,
Mar 27 Cotton is at 80.96, down 53 points,
May 27 Cotton is at 82.6, down 53 points
On the date of publication, Austin Schroeder did not directly have a position 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.