Cotton futures are showing 29 to 40 point gains across most contracts so far on the Turnaround Tuesday session. The US dollar index is down another $0.119 on the day to $97.460, with crude oil slipping back 58 cents.
The NASS Crop Progress report indicated a total of 67% of the US cotton crop with bolls opening and behind the 69% average, with harvest matching the average pace at 16%. Cotton conditions were listed at 47% good/excellent, steady with last week, as the Brugler500 index was up 2 points to 335. Ratings in TX were up just 2 points, with GA slipping by 2 points.
Monday’s online auction from The Seam showed 316 sales at an average price of 63.70 cents/lb. The Cotlook A Index was steady again on September 29 at 77.70 cents. ICE cotton stocks were again unchanged on 9/29, with the certified stocks level at 15,474 bales. USDA’s Adjusted World Price (AWP) was back down 41 points last week at 54.38 cents/lb. It is good through Thursday.
Oct 25 Cotton is at 63.05, down 90 points,
Dec 25 Cotton is at 65.88, up 38 points,
Mar 26 Cotton is at 67.73, up 29 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.
