Cotton prices are down 54 to 92 points so far on Tuesday morning. Futures closed with Monday gains of 54 to 90 points at the close. Crude oil was down $7.40 per barrel, with the US dollar index up 0.083.
Weekly Crop Progress data showed 81% of the US cotton crop squared as of Sunday, now steady with normal. The crop was also 45% setting bolls, matching the 5-year average pace. Condition ratings were pegged at 46% good/excellent, up 1 percentage point on the week. The Brugler500 index was up 4 points to 336.
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The NOAA 7-day QPF shows very limited precipitation across much of TX with 1 to 2 inches seen in parts of MS, AL, and GA through the east coast.
The Cotlook A Index was unchanged July 24 at 90.35 cents. ICE certified cotton stocks were unchanged on Friday, with the certified stocks level at 94,235 bales. The Adjusted World Price was trimmed by 155 points on Thursday to 63.82 cents/lb. It is good through next week.
Oct 26 Cotton closed at 79.34, up 79 points, currently down 54 points
Dec 26 Cotton closed at 80.88, up 90 points, currently down 91 points
Mar 27 Cotton closed at 82.47, up 83 points, currently down 90 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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