Cotton futures posted a correction Tuesday, with contracts down 10 to 137 points across the board. The US dollar index was $0.150 higher at $99.255. Crude oil was up $0.07 at $103.59 on the day.
NASS Crop Progress data showed 41% of the US cotton crop planted as of May 17, which was 1 percentage point ahead of the 5-year average of 40%. Of the major 15 states USDA reported, GA was 3% behind normal, with LA, the Carolinas, VA all behind their average planting pace.
The Cotlook A Index was back down 325 points on Monday at 90.65 cents. ICE certified cotton stocks were up 10,053 bales on May 18, with the certified stocks level at 203,491 bales. The Adjusted World Price was up another 228 points last week at 71.87 cents/lb.
Jul 26 Cotton closed at 82.33, down 137 points,
Dec 26 Cotton closed at 83.16, down 82 points,
Mar 27 Cotton closed at 83.9, down 69 points
