Cotton price action early on Tuesday is 60 to 95 points higher on Tuesday morning. Futures were up 9 to 37 points across most contracts on Monday. Crude oil was up another 65 cents per barrel, with the US dollar index up 0.209.
Monday afternoon’s Crop Progress showed 73% of the US cotton crop squared as of Sunday, 1% ahead of normal. The crop was also 32% setting bolls, matching the 5-year average pace. Condition ratings were pegged at 45% good/excellent, up 1 percentage point on the week. The Brugler500 index was up 1 point to 332.
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The Seam reported 2,299 bales sold on Friday at an average of 80.40 cents/lb. The Cotlook A Index was down 225 points on 7/17 at 88.40 cents. ICE certified cotton stocks were unchanged on July 17, with the certified stocks level at 98,838 bales. The Adjusted World Price was raised by 3.52 cents on Thursday to 65.37 cents/lb.
Oct 26 Cotton closed at 77.37, up 30 points, currently up 95 points
Dec 26 Cotton closed at 78.92, up 29 points, currently up 70 points
Mar 27 Cotton closed at 80.29, up 28 points, currently up 67 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.