Cotton futures got a Turnaround Tuesday bounce, with contracts up 10 to 27 points at the close. The US dollar index was down another $0.089 on the day to $97.495, with crude oil slipping back $1.01.
The NASS Crop Progress report indicated harvest matching the average pace at 16%. Cotton conditions were listed at 47% good/excellent, steady with last week, as the Brugler500 index was up 2 points to 335. Ratings in TX were up just 2 points, with GA slipping by 2 points.
Monday’s online auction from The Seam showed 316 sales at an average price of 63.70 cents/lb. The Cotlook A Index was steady again on September 29 at 77.70 cents. ICE cotton stocks were again unchanged on 9/29, with the certified stocks level at 15,474 bales. USDA’s Adjusted World Price (AWP) was back down 41 points last week at 54.38 cents/lb. It is good through Thursday.
Oct 25 Cotton closed at 63.32, up 27 points,
Dec 25 Cotton closed at 65.77, up 27 points,
Mar 26 Cotton closed at 67.57, up 13 points
