Cotton futures closed out the Monday session with losses of 52 to 58 points. Crude oil futures were down 27 cents per barrel. The US dollar index was down $0.623 at $97.575.
Weekly Crop Progress data indicated 75 of the US cotton crop was squaring as of July 20, with 33% setting bolls, matching average. Condition ratings improved 3% to 57% gd/ex, with the Brugler500 index up 8 points to 347.
The weather forecasts for the next week feature dryness for much of Texas, with some of the Southeast forecast to receive 1 to 2 inches, with amounts rising towards the Gulf.
The Seam showed sales of 58 bales on Friday, with an average price of 68.35 cents/lb. The Cotlook A Index was up .20 at 79.50 on July 18. ICE cotton stocks were steady on 7/18, with the certified stocks level at 22,337 bales. USDA’s Adjusted World Price (AWP) was up a tick on Thursday at 54.72 cents/lb. It is in effect through this coming Thursday.
Oct 25 Cotton closed at 66.54, down 58 points,
Dec 25 Cotton closed at 68.1, down 58 points,
Mar 26 Cotton closed at 69.46, down 52 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.
