Cotton futures were down 49 to 64 points on the Tuesday session. The US dollar index was up $0.575 on the day to $98.265, with crude oil futures $0.96 higher.
Th weekly NASS Crop Progress report showed 90% of the US cotton crop setting bolls as of Sunday (vs. 93% on average), with 28% listed as bolls opening and behind the 30% average pace. Condition ratings were down 3% to 51% gd/ex, as the Brugler 500 index was down 5 points to 344.
The Seam reported 322 bales sold on Friday at an average price of 63.77 cents/lb. The Cotlook A Index was down 75 points to 77.95 cents on September 1. ICE cotton stocks were steady on 8/29, with the certified stocks level at 15,474 bales. USDA’s Adjusted World Price (AWP) was back down 59 points last week at 54.94 cents/lb.
Oct 25 Cotton closed at 64.57, down 64 points,
Dec 25 Cotton closed at 66.05, down 49 points,
Mar 26 Cotton closed at 67.91, down 53 points
