Cotton futures are down 38 to 63 points in the nearby contracts so far on Tuesday’s midday. Crude oil futures are $1.00/barrel higher. The US dollar index is continuing the rally, up $0.340 to $98.735.
Weekly Crop Progress data indicated 80% of the US cotton crop was squaring as of July 27, with 44% setting bolls. Condition ratings were back down 2% to 55% gd/ex, with the Brugler500 index down 2 points to 345. TX ratings were steady at 334, with GA slipping 3 points.
The Seam showed sales of 1,489 bales on Monday, with an average price of 61.20 cents/lb. The Cotlook A Index was down 50 points at 78.70 cents on July 28. ICE cotton stocks were steady on 7/28, with the certified stocks level at 21,617 bales. USDA’s Adjusted World Price (AWP) was up 23 points last week at 54.95 cents/lb. It is good through this Thursday.
Oct 25 Cotton is at 67.02, down 38 points,
Dec 25 Cotton is at 67.71, down 63 points,
Mar 26 Cotton is at 69.13, down 63 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.
