Cotton futures are showing midday losses of 33 to 44 points on Tuesday, with October up 2 points. The US dollar index is up $0.063 to $98.080, as crude oil futures were back down $0.80.
The weekly Crop Progress report from NASS showed a total of 97% of the US cotton crop squared by August 10, with 73% setting bolls, 7 points behind average. There was 13% of the crop with bolls opening vs. 16% on average. Conditions were back up 2% at 55% gd/ex, with the Brugler500 index shooting 11 points higher to 349.
The Seam reported 1,687 bales sold in the Monday online auction at an average price of 64.25 cents/lb. The Cotlook A Index was down 25 points at 79.15 cents on August 18. ICE cotton stocks were steady on 8/18, with the certified stocks level at 17,017 bales. USDA’s Adjusted World Price (AWP) was back up 66 points last week at 55.05 cents/lb.
Oct 25 Cotton is at 66.44, up 2 points,
Dec 25 Cotton is at 67.37, down 44 points,
Mar 26 Cotton is at 69, down 33 points
