Cotton futures posted gains of 21 to 42 points on Tuesday. Wednesday is first notice day for October. The outside markets were supportive, with the US dollar index down $0.135 on the day to $96.840 and crude oil futures $1.38 higher.
Crop Progress data showed a total of 60% of the US cotton crop with bolls opening, 1% above the average pace. Harvest was at 12% complete, on par with normal. Cotton conditions were down 5% to 47% gd/ex, as the Brugler500 index fell 11 points to 333. The only states to see an increase were AR and OK, as GA ratings were down 9 points, with TX slipping 13 points.
The Cotlook A Index was down another 55 points at 77.85 cents on September 22. ICE cotton stocks were again steady on 9/22, with the certified stocks level at 15,474 bales. USDA’s Adjusted World Price (AWP) was back up 69 points last week at 54.79 cents/lb. It will be updated on Thursday.
Oct 25 Cotton closed at 64.53, up 21 points,
Dec 25 Cotton closed at 66.64, up 42 points,
Mar 26 Cotton closed at 68.56, up 38 points
