Cotton price action is down 36 to 43 points so far on Wednesday morning. Futures got a Turnaround Tuesday bounce, with contracts up 10 to 27 points at the close. The US dollar index was down another $0.089 on the day to $97.495, with crude oil slipping back $1.01.
The NASS Crop Progress report indicated 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 closed at 63.32, up 27 points, currently unch
Dec 25 Cotton closed at 65.77, up 27 points, currently down 46 points
Mar 26 Cotton closed at 67.57, up 13 points currently down 41 points
