Cotton prices are down 2 to 14 cents early on Wednesday. Futures were 8 to 77 points higher across most contracts on the Tuesday session. Crude was down $2.57 cents per barrel on the session, with the US dollar index $0.266 lower.
Late on Monday, the White House announced a Harvest Fuel Relief Program, providing producers with $8 billion in assistance due to high fuel prices.
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The weekly Crop Progress report showed 85% of the US cotton crop with bolls opening as of Sunday. Harvest was tallied at 41%, running 4 percentage points ahead of normal. Condition ratings were pegged at 35% good/excellent, up 1 percentage points on the week. The Brugler500 index was steady at 292.
The Seam reported 1,394 bales sold on October 19, at an average of 73.51 cents/lb. The Cotlook A index was trimmed by 15 points on 10/19 at 90.95. ICE certified cotton stocks up 1,489 bales on Monday, with the certified stocks level at 16,618 bales. The Adjusted World Price was back up 80 points last week to 64.61 cents/lb.
Dec 26 Cotton closed at 80.88, up 75 points, currently down 14 points
Mar 27 Cotton closed at 84.18, up 75 points, currently down 9 points
May 27 Cotton closed at 85.86, up 77 points, currently down 8 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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